Improved activity in local Chinese HRC market

During the week ending December 2, hot rolled coil (HRC) prices in the Chinese domestic market have indicated an overall upward trend, while transaction activity in the market has shown some improvement compared to the previous week and is now generally at decent levels. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
 
During the given week, the rising trend seen in futures prices of rebar and iron ore prices has also provided support for the upward movement of local HRC spot prices. Meanwhile, some HRC materials have been in short supply in the spot market and this has also contributed to the increases in HRC prices. However, in actual transactions, there has been room for negotiation on high-priced HRC products, while transaction activity has been comparatively better for HRC products at the lower end of the price range. In December, new supplies are expected to arrive in the market, which should eventually ease the shortages seen for some specifications. It is thought that HRC prices in the Chinese domestic market will either continue their upward movement in the coming week, or, at least, will remain on a stable trend.
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