Over the past week, market participants have continued to hold divergent views on the prospects for the future CRC market.
With local HRC prices moving on a downtrend, the domestic CRC market has indicated minor fluctuations on a slightly soft trend over the past week. Market insiders have told SteelOrbis that CRC prices may see further decreases due to possible increases in CRC output following a higher average daily crude steel output in China in March. In addition, the lack of positive measures by the central government has contributed to the increased pessimism in the CRC market. Meanwhile, the situation as regards orders received by steelmakers is not great.
Overall, it is expected that CRC prices in the Chinese domestic market will move down in the coming week.