As the Spring Festival/Chinese New Year holiday (starts February 9) is only a few days away, more and more traders have exited the market and transaction activity has been fairly quiet.
Downstream users have already built up huge inventories and so it is thought that demand could indicate some short-term stagnancy after the holiday, which would exert a certain braking effect on any upward tendency in the market.
Overall, it is expected that after the holiday the Chinese domestic CRC market will move up on the back of high costs, though actual demand is also expected to be a decisive factor in determining the market trend.