Scarce activity in local Chinese HRC market before holiday

During the week ending February 10, average hot rolled coil (HRC) prices in the Chinese domestic market have mostly continued their decreasing trend, indicating minor decreases, while transaction activity in the market has slackened further ahead of the Spring Festival holiday (Feb. 18-24). Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
 
During the given week, even though most local HRC prices have continued to decline, some slight upticks have been seen in the Tianjin market, influenced by increases in the HRC futures market. Local HRC traders have been gradually suspending their trading activities and exiting the market due to the approach of the Spring Festival. It is expected that HRC prices in the Chinese domestic market will remain on a stable trend in the coming week.