During the week ending August 7, cold rolled coil (CRC) prices in the Chinese domestic market have only indicated minor fluctuations. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
In the given week, slight upticks and downticks have been observed in Chinese domestic CRC prices depending on the differing views of traders regarding the prospects for the market.
Although HRC prices in the Chinese domestic market had risen by an aggregate of RMB 200/mt ($32/mt) from around mid-June up to late July, domestic CRC prices only saw an increase of RMB 100/mt ($16/mt) over the same period. Accordingly, it is thought that CRC prices in the Chinese domestic market will witness further increases in the short term. However, slack demand in the CRC market and the limited maintenance work being carried out by steelmakers have meant a lack of solid support for CRC prices. It is expected that in the coming week Chinese domestic CRC prices will continue to indicate minor fluctuations.