The long-sluggish cold-rolled coil (CRC) market has rebounded thanks to rising import prices and China Steel Corp.'s (CSC) September rate hike. Before CSC's new price announcement, Baogang raised CRC prices. Higher prices prompted the industry to return to rationality, and market participants shifted their sales strategy to a price-up.

As a result, CSC's new price further encouraged imported CRC prices to rise twice. Although current buying remains slow, local distributors believe that import prices are too high, minimizing disruption to the domestic market. Furthermore, local steel mills have been expected to raise prices recently, making CRC spot supplies scarce.