Chinese domestic prices for hot rolled coil have rebounded a
little over the past three days.
Prices of 5.5mm HRC have increased by RMB 10-20/MT
($1.6-3.2/MT) over the past three days to RMB 4,240-4,260/MT ($671-674/MT)
with 17% VAT in Guangdong's Lecong steel market and to RMB 4,130-4,150/MT
with VAT in Shanghai.
Expressing their view on the slight price
rebound, Domestic traders said, “A little price volatility is expected to continue in June-July
unless the government launches successful new stimulus policies to improve
manufacturing sector”.
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