Cold-rolled coil (CRC) export offers from China increased by approximately US$10/ton for September shipments over the past week. This rise was attributed to an upturn in hot-rolled coil (HRC) futures and a more positive domestic market mood.

The improved market sentiment followed the publication of a draft revision to China's price law, marking further supply-side reforms. Despite this, CRC demand remains subdued due to the traditional off-season and widespread heavy rainfall across various regions.

HRC futures on the Shanghai Futures Exchange (SHFE) also had an increase, up by about 1.3% since July 23 and 0.8% from the prior day.