Major steel producers in China now have higher-priced CRC materials in stock, following their November production. Meanwhile, amid tightness of supplies, volumes of orders placed for 1.0-1.2 mm CRC specifications have increased a little.
In November, China's official purchasing managers index (PMI) for its manufacturing sector hit its highest level of the past 13 months, indicating a moderate recovery in downstream sectors. However, towards the end of the year, CRC traders are mostly concerned by tight liquidity, which will likely have a negative impact on the local CRC price trend.
As for the coming week, it is expected that domestic CRC prices in China will trend sideways.