During the week ending October 8, prices in the Chinese domestic cold rolled coil (CRC) market have indicated slight fluctuations, with both increases and declines in prices being observed, while transaction activity has remained at poor levels as market participants mostly maintain a wait-and-see stance. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, some traders have tried to increase their offer prices for CRC products, while other traders have lowered their prices in order to stimulate sales activities. During the National Day Holiday period (Oct. 1-7), prices of semi-finished steel products indicated a slight rising trend, mainly due to a loosening of credit policies in the real estate sector, which is expected to stimulate real estate transaction activity and have a positive impact on the steel industry. As for the domestic CRC market in the short term, most local CRC traders are cautious as they think the supply-demand situation has not yet indicated any significant improvement. It is expected that CRC prices in the Chinese domestic market will follow a slightly soft trend in the coming week.