During the week ending July 30, hot rolled coil (HRC) prices in the Chinese domestic market have dropped down slightly. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Under the impact of the significant declines seen in the steel futures market and the prevailing wait-and-see atmosphere, local HRC prices in China have indicated minor decreases. On the other hand, due to the short supply of HRC materials in the domestic market, the price decrease margin has been limited.
As market insiders state, the export market has not been performing well recently, while traders' stocks are on the high side. It is anticipated that in August domestic HRC prices will gradually rise amid expectations of relatively steady demand.
As for the coming week, domestic HRC prices in China are expected to indicate slight fluctuations.