CHINA HRC: Prices fall further amid expectations of further downside

Eastern China’s hot-rolled coil prices continued to fall on Tuesday October 30 amid low demand, with buyers putting off restocking plans on expectations that the market would weaken further.

Domestic
Eastern China (Shanghai): 4,140-4,150 yuan ($595-596) per tonne, down 10-20 yuan per tonne
Northern China (Tianjin): 4,080-4,090 yuan per tonne, unchanged
Demand remained weak despite a slight pick-up in trading activity during the day, according to sources who said there were no signs of production rising in major downstream consumers such as the automobile and household appliances sectors.

As such, market participants are still expecting to see more downside for prices over the next few...

Published

Miranda Song

October 30, 2018

10:10 GMT

Shanghai