In the domestic HRC market, while the downstream purchase volume has been on the low side, traders are now more confident on the prospects for the future trend of the market. At present, most traders have low inventories, while the HRC materials they recently booked have not arrived yet. Some traders were under pressure due to shortage of funds approaching the end of March, which caused them to lower their prices a little.
Some increase may be seen in the Chinese HRC market after the Qinming Festival, though it is still uncertain whether downstream demand will provide sufficient support.
It is expected that the Chinese HRC market will continue to see minor fluctuations in the current week.