Due to improved demand this week, the price of hot-rolled coil (HRC) in the US Midwest market continued to rise, with an increase of 1.94% from last week. Since the price bottomed in mid-July, the current increase has reached 13.55%.

However, the market's trading volume was insufficient to analyze data, and the steel mills' offer remained flat for the time being. Market participants expected the HRC price to be more stable in the coming weeks.

Because variables such as production cuts by steel mills, sluggish demand from equipment manufacturers, and weak scrap steel prices will affect subsequent prices, it is prudent to assess future demand.

Local distributors said that the recent recovery in demand should not be a real reversal, and the price trend is still rising slowly, but there will not be much fluctuation.