During the week ending April 2, the Chinese domestic cold rolled coil (CRC) market has indicated a slight downward movement, while transaction activity has generally been sluggish. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
In the given week, although some upticks have been seen in prices of raw materials and hot rolled products, the Chinese domestic CRC market has edged down and activity has been on the quiet side. On the one hand, local CRC traders are more cautious as regards the future prospects for the market, while, on the other hand, a lot of new CRC supplies have arrived in the domestic market recently, and so higher inventory levels have started to exert downward pressure on spot prices. However, since demand from downstream industries may improve in April as compared to March due to the anticipated warmer weather conditions, it is thought that CRC prices in the Chinese domestic market may rebound slightly in the coming period.