Chinese HRC market moves up slightly amid short supplies

Tuesday, 30 October 2012 14:54:15 (GMT+3)   |  
During the week ending October 30, hot rolled coil (HRC) prices in the Chinese domestic market have continued to trend up slightly. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.     
 
In the given week, market supplies of HRC products in China have been at relatively low levels, and this has provided support for sales prices of HRC. However, due to slack demand from downstream industry, market activity has been sporadic. Traders are now maintaining a wait-and-see stance towards the market.
 
For the coming week, it is thought that HRC prices in China may indicate sideways or downward movement.

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