During the week ending October 30, the Chinese domestic cold rolled coil (CRC) market continued its downtrend, while most end-users have been keeping their CRC inventories at low levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
As local traders report, the further decrease in local hot rolled coil (HRC) prices and the cautious attitude prevailing among downstream customers have both impacted on domestic CRC prices. On the one hand, overall transaction volumes have indicated a slight decline in the main domestic markets for CRC. On the other hand, a small rise in the CRC inventories of mills and traders in China has been witnessed recently, pointing to sufficiency on the supply side in the coming period. As regards the coming week, it is thought that Chinese domestic CRC prices will probably fluctuate in a downward direction.