HRC prices in the Chinese domestic market have indicated some minor signs of weakness in the past week following the small rebound observed in the previous week. Traders who have large inventories have suffered very significant losses. Amid weak demand and uncertainty surrounding the future, traders are maintaining a wait-and-see stance instead of concluding transactions.
As for the coming week, it is thought that local HRC prices are unlikely to witness large increases due to sluggish demand and increasing pressure on traders to sell off materials and bring in funds. It is thought that prices of Q235B 5.75 mm x 1,500 mm HRC may be around RMB 3,900/mt ($623/mt) in the coming week.