Recently, the prices of hot rolled coil (HRC) have continued to drop in Chinese market in the traditional peak season.
Dealers said that the weak demand and tight monetary policy were the two major reasons to depress the HRC prices.
It's known that the HRC prices have dropped by RMB50/ton in Shanghai and Tianjin markets respectively after the Chinese Mid-Autumn Festival. The HRC prices in Shanghai market have dipped to RMB4, 700/ton.
For the prospect, dealers predicted that the HRC prices would dropped further to RMB4, 600~RMB4,650/ton during September to October in Shanghai market as the steel flat market has been seen weak in the second half of this year