Despite falling iron ore prices and weaker-than-expected Chinese macroeconomic data, the price of hot-rolled coil (HRC) in the Asian markets remained stable. At present, market sentiment is cautious, and buyers are adopting a wait-and-see approach. 
The latest economic figures from China were weak. Although industrial output and trade performance were relatively robust, domestic demand was generally slow, putting pressure on market sales. Therefore, local distributors indicate that after the decline in HRC futures prices, steel mills are unwilling to announce new offers due to the uncertain future trend, and buyers remain conservative. 
On the other hand, Europe will enter its summer vacation in July and August, and with new safeguard measures to be implemented on July 1, Europe has almost suspended the procurement of imported HRC.