Despite the high offer price levels of CRC traders in China, actual transactions prices have been around RMB 30/mt ($4/mt) lower than the offer levels due to declining order volumes.
At present, most CRC traders are not willing to lower their offers considering the positive factors which still exist in the market. Government policies still exert a positive impact, while major domestic CRC producers have announced price hikes in the range of RMB 50-100/mt ($7-15/mt). Accordingly, it is thought that there is no significant room for decreases in CRC product prices in the Chinese market in the coming period.
For the coming week, CRC prices are expected to move sideways in the Chinese market.