Traders have mentioned that the price rises in the Chinese domestic HRC market have mainly been due to tightness of supply and some inventory replenishment activity being carried out at the end of year. However, many traders are uncertain of the price trend in the coming period and are just buying in material they are sure they will be able to sell off quickly. Meanwhile, no obvious improvement has been observed in demand.
Overall, it is thought that Chinese domestic HRC prices will likely trend sideways in the coming week.