CHINA HRC: Prices drop after significant slump in financial market

China’s hot-rolled coil prices dropped slightly on Thursday October 11 after a downturn in investor sentiment caused by a significant fall in the local financial markets.

Domestic Eastern China (Shanghai): 4,230-4,240 yuan ($611-612) per tonne, down 20-30 yuan per tonne Northern China (Tianjin): 4,130-4,150 yuan per tonne, down 10-20 yuan per tonne HRC prices fell because trading has been thinner after most buyers restocked on Monday and Tuesday, a Shanghai-based trader said. Meanwhile, investor sentiment was hit when the domestic stock market tumbled to near four-year low. Investors believe...

Published

Miranda Song

October 11, 2018

12:52 GMT

Shanghai