HRC and rebar demand may shrink further

In terms of construction materials, affected by cold wave in north China, downstream demand in some areas stagnated. Overall demand diminished last week, and may keep weakening this week, weighed down by intensifying weather disturbances.

In terms of HRC, spot price of HRC recently increased first and then declined. End users aimed to purchase HRC on a need-to basis, and may shrink further this week amid cold wave in north China.