During the week ending November 12, prices in the Chinese domestic hot rolled coil (HRC) market have mostly been characterized by a stable trend, though minor changes in price have also been seen. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
As local traders report, the overall transaction volume in the local Chinese HRC market has remained at low levels in the given week, and so traders have been offering discounts in order to attract business. In addition, weak demand and overcapacity both limit the room for upward movement of HRC prices. As regards the coming week, it is thought that Chinese domestic HRC prices will probably move in a sideways direction, with some minor fluctuations.