During the week ending September 18, prices in the Chinese domestic cold rolled coil (CRC) market have continued to drop down slightly. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
At present, prices of crude oil and iron ore have maintained their weak trends, while CRC end-users have mostly adopted a wait-and-see stance and have postponed their purchases. In addition, with the approach of the Mid-Autumn Festival and the National Day holiday in China, domestic CRC traders have been reducing their prices as they seek to attract orders and keep their inventories lean. In the near term, it is expected that Chinese domestic CRC prices will fluctuate on a slightly soft trend against the background of strong pressure on the supply side and low downstream demand.