During the week ending June 10, hot rolled coil (HRC) prices in the Chinese domestic market have mostly seen slight rises, while transaction activity has remained slack. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports.
During the given week, HRC inventories in the Chinese domestic spot market have been at low levels, and so some traders have been optimistic on the prospects for the future market and have sought to increase their offer prices by RMB 10-30/mt ($1-4/mt). At the same time, however, other traders have reduced their offer prices due to poor transaction activity. It is expected that HRC prices in the Chinese domestic market will fluctuate within a narrow range in the coming week.