During the week ending December 3, Chinese domestic hot rolled coil (HRC) prices have been characterized by slight upticks. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Against the background of relatively high upstream costs, HRC prices in the local Chinese market have edged up in the given week, with most traders inclined to make upward adjustments to their prices. At the same time, however, demand remains on the weak side and traders are not sure how long the slight uptrend will last and so they are active in clearing out inventories in order to lower risks. As regards the coming week, it is thought that Chinese domestic HRC prices will probably move on a sideways trend, with some minor fluctuations also possibly.