During the week ending June 17, hot rolled coil (HRC) prices in the Chinese domestic market have softened very slightly, while transaction activity has remained at poor levels. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, the ongoing decreasing trend of HRC futures prices has exerted a negative impact on the domestic HRC spot market. Some traders have reduced their sales prices in order to attract business and bring in funds. Meanwhile, purchasing activity from downstream industries has been slack, with downstream buyers only purchasing in line with their needs. It is thought that HRC prices in the Chinese domestic market will continue to indicate a slight downtrend in the coming week.