As of March 31, average hot rolled coil (HRC) prices in the Chinese domestic market indicate a very slight increase for thick specifications compared to one week ago, with prices of thin specifications stable week on week, while overall transaction activity in the market has been poorer than in the previous week, remaining on the slack side. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, local HRC prices first indicated upward movement, while later moving down. Prices of thick specifications are now slightly higher compared to one week ago, while prices of thin specifications are unchanged. HRC prices had risen significantly in the previous week and some buyers have been slow to accept the higher price levels. It is expected that HRC prices in the Chinese domestic market will move sideways in the coming week.