CHINA HRC: Domestic prices flat amid uncertainties over production cuts

China’s domestic hot-rolled coil market was largely unchanged on Wednesday July 11, with trading falling amid sustained uncertainties over speculated production cuts, with buyers resisting high prices.

Eastern China (Shanghai): 4,230-4,250 yuan ($638-641) per tonne, unchanged
Northern China (Tianjin): 4,110-4,120 yuan per tonne, unchanged
Although prices remained high, trading activity thinned in comparison with Tuesday, a Tianjin-based trader said.
A Shanghai-based trader said this was partly because buyers - whose margins had been under pressure for a long period - could not afford to pay such prices.

But the main reason for the day’s thin trading was uncertainty over speculated production cuts in Tangshan, China’s steel production hub in the northern region. The period for the purported cuts have now shifted to between July 20 and the end of August, according...


Miranda Song

July 11, 2018

11:16 GMT