According to Mr Zhang Dongyong, GM of Shanghai Gaiqun Trading Co Ltd "I'm confident the HRC market will go up in the H1 of next year."

He said “The market is poised to stabilize, now that transaction prices in Shanghaiare standing at some CNY 3700 per tonne much higher than a period ago. But in short term, the HRC market is not to rise for heavy stock pressure, citing a survey of around 1.7 million tonnes to 1.8 million tonnes in Shanghaionly.”

Mr Zhang added that “In view of the nation's continuing will to sustain the economic growth that in a longer run the HRC will appear better in H1 next year than in this H2. Moreover, the added credit is expected to be in line with this year counting in about 2000 billion to 3000 billion of this year addition still available for next year.”

He also said “The demand, either from automobile or household appliance, will not wane, under the nation's favorable measure of selling them in the countryside.”