CHINA HRC: Buyers await new offers before committing

China’s hot-rolled coil prices were mixed on Monday July 16 amid thin trading, with buyers taking a wait-and-see approach before most mills release their offers on Tuesday.

Eastern China (Shanghai): 4,250-4,280 yuan ($635-640) per tonne, widening downward by 10 yuan per tonne
Northern China (Tianjin): 4,160-4,180 yuan per tonne, up 10-20 yuan per tonne
Most participants said prices were “little changed” although they moved in different directions in eastern and northern China.

Although prices in Shanghai widened downward to 4,250 yuan per tonne, the number of transactions done at this level was relatively low. Most trades were being done at 4,260-4,280 yuan per tonne...


Miranda Song

July 16, 2018

12:03 GMT