During the week ending July 8, hot rolled coil (HRC) prices in the Chinese domestic market have continued their slight downtrend, 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 prices in the Chinese domestic market have been negatively impacted by the significant declines in HRC futures prices in China. Although most traders are reluctant to lower their sales prices by too large a margin, some traders believe HRC prices will continue to move down if the futures market remains on a soft trend against the backdrop of the current sluggish demand situation. It is expected that HRC prices in the Chinese domestic market will likely remain on a slight downtrend in the coming week.