During the week ending July 15, hot rolled coil (HRC) prices in the Chinese domestic market have mostly indicated a slight rising trend, while transaction activity has shown some improvements compared to the previous week and is at decent levels. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, since HRC futures prices in China have continued to rise, sentiment among HRC traders in the Chinese domestic market has been more bullish than in the previous week, while increased inquiries have been observed from downstream users. Some traders have tried to raise their offer prices, though other traders have kept their offer prices stable. Some uncertainty still exists in the local Chinese HRC market and this may limit the upward movement of prices. It is expected that HRC prices in the Chinese domestic market will fluctuate within a limited range in the coming week, while the levels of real demand will determine whether prices mostly move up or move down.