During the week ending November 11, hot rolled coil (HRC) prices in the Chinese domestic market have been fluctuating and are now slightly lower than they were one week ago, while overall transaction activity in the market has continued to be sluggish. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During most of the given week, HRC futures prices have followed an upward trend supported by production cuts in northern China due to the Asia-Pacific Economic Cooperation (APEC) meeting held in Beijing, resulting in slight rises in prices in the HRC spot market. On Tuesday, November 11, however, HRC futures prices indicated a decline, causing a decrease in HRC prices in the spot market, against a background of slack demand. It is expected that HRC prices in the Chinese domestic market will continue to follow a fluctuating trend in the coming week, with limited rises or declines anticipated.