During the week ending September 2, hot rolled coil (HRC) prices in the Chinese domestic market have continued to see downward movement, while transaction activity 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 significant declines, exerting a negative impact on the trend of the domestic HRC spot market. Some traders cut their sales prices in order to attract business and bring in funds and so other traders have followed their example and done likewise. It is expected that HRC prices in the Chinese domestic market will continue to move down in the coming week.