China's CRC price expected to increase slightly after National Day holiday
From September 26 to 30, China's steel market was optimistic because of refilling the inventory and expediting infrastructure work. Regarding China’s steel market outlook, steel prices were expected to go up. The supply and demand of aluminum were forecasted to be balanced by the end of October.
The cold-rolled coil production last week was about 787,000 tons, slightly decreasing by 0.9% week on week. Compared with the previous week, the cold-rolled coil stocks last week from factories were 340,000 tons, falling by 4.9%. The social inventory of the cold-rolled coil was 1.3 million tons, decreasing by 1.25%.
After China’s National Day holiday, downstream buyers would try another step to refill stocks, and the price of the cold-rolled coil was expected to increase slightly.