During the week ending May 28, the Chinese domestic cold rolled coil (CRC) market has seen slight downticks for some specifications, while prices of other specifications have moved sideways. Transaction activity in the market has remained at poor levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
While CRC inventory in the Chinese domestic market has indicated declines over the past three weeks, overall CRC inventory in the market is still considered to be at high levels. In May, major Chinese CRC producers have not carried out much maintenance work, with their CRC production capacity utilization rates running at an average of around 90 percent, contributing to strong supply pressure. Meanwhile, most traders are willing to sell at lower prices in order to bring in cash and ease liquidity tightness. It is expected that CRC prices in the Chinese domestic market will see a slight downward movement in the coming week.