During the week ending March 27, cold rolled coil (CRC) prices in the Chinese domestic market have continued their slight downward movement. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Over the past week, minor declines have been in witnessed in local CRC markets around China. However, since demand for CRC products has seen a gradual improvement, and also taking into account decreases in inventory and the significant declines already witnessed in CRC prices, most traders are now less willing to reduce their prices. It is thought that the declining movement of CR prices will slow down in the coming period, while further support is required from demand before a rebound of prices will occur.
As for the coming week, it is expected that CRC prices in the Chinese domestic market will fluctuate within a limited range.