Traders wait and see in local Chinese HRC market

Tuesday, 26 May 2015 17:51:43 (GMT+3)   |   Shanghai
       

In the week ending May 26, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a slight downward movement, while transaction activity in the overall market has improved compared to the previous week, though it remains quiet.
 
During the given week, prices of 2.75 mm HRC have varied from trader to trader as some shortages have been seen for this specification. Lately, local HRC traders have mostly been maintaining a wait-and-see stance as regards the future prospects for the market, while the weak sentiment among traders is unlikely to improve in the coming week. Approaching the end of the month, new supplies have been arriving in the market, which will exert a negative impact on the local HRC market from the supply side. It is expected that HRC prices in the Chinese domestic market will likely continue to move on a slight downtrend in the coming week. 
 

Similar articles

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

UAE’s HRC market still sluggish, offers from India fall slightly

27 Mar | Flats and Slab

Import HRC prices in Vietnam retreat again due to slump in China

27 Mar | Flats and Slab

Vietnam’s Hoa Phat produces nine millionth mt of HRC

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

HRC consumption in Mexico up 30.6 percent in January

26 Mar | Steel News

Local HRC prices sink further in Turkey

26 Mar | Flats and Slab

Import HRC prices to Pakistan decline in new ex-China offers, other suppliers avoid discounts

26 Mar | Flats and Slab

Ex-India HRC prices soften slightly amid slow demand globally

26 Mar | Flats and Slab

Mood among Chinese HRC exporters worsens again after slight rise last week

26 Mar | Flats and Slab