China’s auto market slowdown dampens CRC prices

China’s auto output in October was 10.1% lower than a year ago, leading to annual contractions in output and sales over the first 10 months and causing price drops in upstream steel goods such as cold-rolled coil (CRC).

China produced 2.33 million units of vehicles in October while 2.38 million units were sold during the month, down 0.9% and 0.6% respectively from a month earlier. In the first 10 months of 2018, China’s auto output totalled 22.83 million units, down 0.4% from a year earlier, while sales dipped 0.1% to 22.87 million units.

CRC prices in eastern China have been posting weekly drops since August 24. On Friday November 9,...

Published

Miranda Song

November 12, 2018

11:42 GMT

Shanghai