During the week ending April 8, hot rolled coil (HRC) prices in the Chinese domestic market have indicated significant rises. Demand has not shown much improvement, with transaction activity on the slack side. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Some traders in the Chinese domestic HRC market have suspended trading activity, waiting for further rises in prices. However, the recent price rises just constitute a correction of price levels following the previous long-term downtrend, rather than resulting from any significant improvement in demand. It is thought that in the short term it will be difficult for Chinese domestic HRC prices to remain on a rising trend, while inventory levels and liquidity issues may also influence traders' prices.