Local Chinese HRC market still sees slack demand from end-users

During the week ending November 4, hot rolled coil (HRC) prices in the Chinese domestic market have mostly remained stable, though indicating some slight downticks for thin specifications, while overall transaction activity in the market has continued to be slack. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
 
During the given week, some regions in the country have seen shortages of HRC supplies, while most traders state that demand from downstream users has remained sluggish. Domestic producers such as Rizhao Steel and Panzhihua Iron and Steel have cut their HRC ex-works slightly, while steelmakers including Ansteel, Benxi Iron and Steel and Shougang are carrying out maintenance works, which will result in reduced pressure from the supply side in the coming period. It is expected that HRC prices in the Chinese domestic market will fluctuate within a narrow range in the coming week.