MONTHLY: HRC prices to edge slightly down in June

Last month saw China’s hot-rolled coil (HRC) prices open high following the May Day holiday that ended on May 5. But after the strong start, HRC prices gradually trended downward to end last month only moderately higher by Yuan 11/tonne ($1.6/t) from end-April at Yuan 3,425/t on May 29.

Entering June, as the flat steel market is navigating the transition from the spring peak season for steel- and consumer-goods consumption to the summer slowdown, pressure will gradually loom for hot coil fundamentals, Mysteel's latest report on the commodity suggests. Weakening demand is likely to weigh on transactions and