During the week ending September 25, hot rolled coil (HRC) prices in the Chinese domestic market have fluctuated within a narrow range. Average HRC prices in the Chinese market can be viewed in the SteelOrbis price reports section.
In the early days of the given week, HRC prices have increased in China on the back of several positive factors. However, towards the end of the week prices have fallen again amid significant downtrend observed in the futures market, with traders and downstream buyers starting adopt a wait-to-see stance afterwards. As a result, market activities have slowed down, bringing HRC prices further down.
At present, market demand still lacks sufficient support and HRC prices in the Chinese market are expected to continue fluctuating within a narrow range.