CHINA HRC: Prices fall on 'smaller-than-expected' winter production cut

China’s hot-rolled coil prices fell on Tuesday November 6 after investor sentiment was dampened by Tangshan’s “smaller-than-expected” production cuts, with trading sparse both domestically and in the export market.

Domestic Eastern China (Shanghai): 4,020-4,040 yuan ($581-584) per tonne, widening downward 10 yuan per tonne Northern China (Tianjin): 4,000-4,010 yuan per tonne, down 30 yuan per tonne Sellers had to lower prices after buyers were reluctant to restock. While trading prices came within reach of 4,040 yuan per tonne in the morning, mills rushed to lower prices in the afternoon because few deals were concluded. Market sentiment was dampened after...

Published

Miranda Song

November 06, 2018

09:55 GMT

Shanghai