During the week ending January 16, the pace of the uptrend in Chinese domestic cold rolled coil (CRC) prices has started to slow down. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Some CRC traders' domestic offer prices have been negotiable over the past week due to sluggish demand amid the current cold winter conditions, while the volumes of inquiries have declined. Some producers have already started to shut down, allowing workers to return to their home towns ahead of the Spring Festival holiday. As the holiday draws closer, demand in the local CRC market is expected to become increasingly stagnant.
It is expected that that the Chinese domestic CRC market will see declines in both prices and transaction volumes in the short term.