Hot-rolled coil price dropped once again after the National Day holiday affected by the sluggish downstream demand and price reduction of steelmills. The market price of hot-rolled coil in Shanghai rose to 5900 Yuan per ton in early July from 4700Yuan per ton in the beginning of this year then dropped significantly later and dropped all the way to 3200 Yuan per ton in middle Oct, dropped by 45 percent. The price predicted to rebound in Nov.

It is predicted hot-rolled coil price reached to its lowest at present and it is not likely to drop further later, but it takes long time for steelmills to digest its huge inventory. Therefore, hot-rolled coil price will only to rebound in short period and will be seeking price balance for Nov. It’s from ChinaMetalBiz.com.

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