During the week ending June 24, hot rolled coil (HRC) prices in the Chinese domestic market have indicated a slight downtrend, while transaction activity has remained at low levels. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Although the rising movement of HRC futures prices in China on June 23 provided a certain amount of support for HRC offer prices in the Chinese domestic market, domestic HRC prices have continued to move on a soft trend in the given week due to slack transaction activity. Steelmakers' profit margins are better than those of traders given the declines seen in prices of imported iron ore. HRC traders in the Chinese domestic market are mostly maintaining a wait-and-see stance regarding the future prospects for the market. It is expected that HRC prices in the Chinese domestic market will fluctuate within a limited range in the coming week.