During the week ending August 6, the Chinese domestic cold rolled coil (CRC) market has seen slight declines, while transaction activity has remained at low levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Following the stable trend recorded over the past two weeks, CRC prices in the Chinese domestic market have seen slight declines in the given week, due to decreasing ex-work prices of some major steelmakers, including Maanshan Iron and Steel and Shandong Iron and Steel.
Recent macro economic data showed that China's economy has been at good levels, providing a certain support to Chinese financial market and steel market. Meanwhile, CRC resources in some regions and some specifications have been in shortage, also exerting a positive impact on CRC prices. It is expected that CRC prices in the Chinese domestic market will move on a strong trend in the coming week as market participants think CRC prices are going to bottom up.