Chinese HRC price hard to increase in August and September
2013-08-06 10:34:58 【Print】
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Chinese domestic HRC price increased at the end of June, and the upward trend continued in July with the markup of over RMB200/t (VAT included) in prevailing cities. However, the price showed signs of decreasing at the end of the month affected by the negative performance in futures market. Insiders think that the oversupply is still the resistance for a prosperous market. When production line maintenances end in steel mills, the high production will pull the price down. Therefore, the price is unlikely to keep increasing in August and September.
