During the week ending June 25, the Chinese domestic cold rolled coil (CRC) market has continued to indicate slight downticks, while transaction activity has been at decent levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, Chinese CRC traders have been under pressure from tight liquidity coming towards the end of the month and so many of them have lowered their prices in a bid to improve their sales volumes. Recently, more CRC materials have arrived in the market, resulting in increased competition among traders. Meanwhile, although declines are still seen in CRC inventories, the decreases in inventory are now smaller and the oversupply situation in the market is unlikely to change in the short term. In addition, demand from downstream industries is on the sluggish side and is unlikely to provide support for domestic CRC prices. It is expected that CRC prices in the Chinese domestic market will continue their slight downward movement in the coming week.