During the week ending August 5, hot rolled coil (HRC) prices in the Chinese domestic market have seen slight rises for thin specifications, remaining unchanged for thick ones, while transaction activity has been at poor levels. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, demand from downstream industries has remained slack due to continuous high temperature in China, while inventory level has not been at high levels as there are not too much supply arrived at the market recently. Traders have been unwilling to lower their prices for specifications in shortage. It is expected that HRC prices in the Chinese domestic market will likely remain stable in the coming week due to stalemate between supply and demand equilibrium.