MYSTEEL: Slight dip predicted for China's HRC prices this half

Domestic prices for hot-rolled coil (HRC) in China during this year’s July-December half are likely to post some gains initially before pulling back later in the year – largely on waning export sales – to end the half slightly lower than the H1 average, Mysteel’s interim report on the commodity states.

The half just gone China's longer-than-usual Chinese New Year holiday break this year over February 15-23 is blamed for this year's spring months of March and April experiencing a slower recovery in end-user steel demand, including that of hot coils, the report notes. The HRC market gained some momentum in May