CHINA HRC: Prices tumble on urgent selling need

China’s hot-rolled coil prices plunged on Monday November 12 after sellers made big cuts to secure bookings.

Domestic
Eastern China (Shanghai): 3,800-3,830 yuan ($546-550) per tonne, down 100 yuan per tonne
Northern China (Tianjin): 3,820-3,840 yuan per tonne, down 90-100 yuan per tonne
Prices plunged by nearly as much as last week’s combined losses during the day.

Trading remained at moderate levels even after sellers implemented the big price cuts, mostly because market participants believe supply will continue to grow even though demand is not showing any...

Published

Miranda Song

November 12, 2018

10:25 GMT

Shanghai