During the week ending January 6, average hot rolled coil (HRC) prices in the Chinese domestic market are generally at the same levels as one week ago, though some upticks and downticks in prices have been seen in the given week, while transaction activity in the market has remained slack. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, HRC futures prices in China have indicated a rising trend, exerting some positive impact on the spot market, while certain traders still choose to sell at lower prices as demand has been weaker than expected. With new supplies arriving in the market, traders may come under stronger pressure from the supply side in the coming period. It is expected that HRC prices in the Chinese domestic market will move sideways in the week ahead.