In the past week, the Chinese hot rolled coil (HRC) market has moved down by a small margin. Average HRC prices in the main markets in China can be viewed in the SteelOrbis price reports section.
In the Chinese HRC market, pessimism prevails among market players. Traders are actively seeking to sell cargoes, but their transaction volumes are low. Meanwhile, downstream users are cautious about purchasing materials. Traders state that bookings by end-users have not improved amid seasonal poor demand in June, in spite of incentive measures announced by the Chinese government, including subsidies for the purchase of energy-efficient household appliances. It is expected that it will take time for the impact of these measures to be felt.
Summing up, it is expected the Chinese HRC market will continue to move downward in the coming week.