During the week ending October 29, the Chinese domestic hot rolled coil (HRC) market has continued its soft trend of the previous week. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
In addition to sluggish demand, the recent arrivals of new supplies have contributed to the downtrend in China’s domestic HRC market. Market participants are not inclined to sell at the decreased price levels, while some buyers are now more inclined to place orders, thereby providing a certain degree of support for prices.
It is thought that the Chinese domestic HRC market may see slight downward corrections in the coming week.