During the week ending December 9, hot rolled coil (HRC) prices in the Chinese domestic market have indicated minor fluctuations, with a slight uptrend seen for thick specifications and slight downticks for thin specifications, while transaction activity in the market has been at decent levels. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, new materials have arrived in the market, providing some relief for the shortages seen in HRC traders' stocks, though shortages and higher prices are still seen for certain specifications. Most downstream users have been purchasing in order to satisfy their needs, while large traders who have received new materials have recorded decent transaction activity. It is expected that HRC prices in the Chinese domestic market will follow a slight uptrend in the coming week as supply shortages will provide a certain degree of support for HRC prices.