During the week ending October 16, prices in the Chinese domestic cold rolled coil (CRC) market have moved on a fluctuating trend, with current prices slightly higher than those of one week ago. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
In the past week, local prices of CRC products in China have been fluctuating amid diverse expectations among traders. On the one hand, supplies still exceed actual demand, preventing prices from rising. On the other hand, steel mills have mostly reduced their prices for November delivery. In order to attract orders, steel mills have started to offer discounts on CRC to customers. It is expected that Chinese domestic CRC prices will move on a soft trend in the short run.