Over past one week, India’s hot-rolled coil prices again decreased substantially by 1000 rupees/ton (about US$15/ton), at 33,200 rupees/ton (about US$$493/ton) ex-factory prices, at the same time, demand is not optimistic about the future, and it is understood that the vendors still have a lot of inventory on the market.

Even if prices fall sharply, trading volume has not increased significantly, displays the buyer does not want to increase their inventory levels.

Meanwhile, price trend is expected to keep falling, inventory levels for the market accumulated kinetic energy, so the market participants and the buyers for hot-rolled coil are reluctant to expand the new deal.