During the week ending August 28, prices in the Chinese domestic cold rolled coil (CRC) market have moved up slightly. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
With the summer weather having gradually cooled, demand in the domestic CRC market has slowly improved in the past week and transaction volumes have indicated a small increase, with a positive knock-on effect on local CRC prices. However, market analysts state that several negative factors still exist such as high inventory amid increased supplies from mills, while towards the end of the month traders are inclined to sell off stocks in order to bring in cash. On the whole, China's domestic CRC market is expected to be characterized by slight fluctuations in the short term.