Chinese hot rolled steel price kept falling this week due to increasing stock level. The current HRC price in Shanghai market has decline to RMB3300 ton by 30 percent from RMB5000/ton in early August.

The market players expect that price can pick up as inventory falls after China National Day vacation. The current inventory was up to 1 million tons in eastern coast of China, which is about 30 percent higher than normal stock level.

Source: yieh.com