During the week ending July 1, hot rolled coil (HRC) prices in the Chinese domestic market have mostly continued their slight downward movement, while transaction activity has remained sluggish. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, influenced by the downtrend in the steel futures market, HRC prices in the Chinese domestic market have also witnessed downward movement. Many traders have been choosing to sell at lower prices, while other traders have kept their prices stable given that some HRC products have been in short supply. It is expected that HRC prices in the Chinese domestic market will remain on a slight downtrend in the coming week as the significant declines seen in the steel futures market will continue to exert a negative impact on the HRC spot market.