During China's Dragon Boat Festival holiday, most HDG traders were out of the market. On the whole, downstream demand in the domestic market has been slow.
After the holiday, some traders have focused on selling materials, though at the same time they have been reluctant to lower their offers. As the traditional slow season for the steel industry approaches, demand is not expected to recover. At the same time, mills' inventory levels are still high. The market is still facing a lack of balance between supply and demand.
As for the coming week, it is expected that HDG prices in the local Chinese market will still trend down.