MONTHLY: China's HRC price to stay rangebound in December

Hot-rolled coil (HRC) prices in China are projected to fluctuate within a certain range this month, with upside potential in the shape of central government macro-economic meetings later this month buffering against the protracted weakness in HRC fundamentals, Mysteel's latest monthly report on the flat product suggests.

During November, HRC market conditions were strained by protracted loose supply and elevated inventories at steel mills and commercial warehouses, which caused hot coil prices to soften. Mysteel assessed the average price of Q235 4.75mm HRC nationwide during the full month of November at Yuan 3,318/tonne ($469/t) including the