CHINA HRC: Start of pre-holiday restocking keeps prices steady

China’s hot-rolled coil market was largely stable on Wednesday January 9 amid robust downstream demand, with some companies starting to restock ahead of the Chinese New Year in early February.

Domestic Eastern China (Shanghai): 3,660-3,670 yuan ($534-535) per tonne, narrowing downward by 10 yuan per tonne Northern China (Tianjin): 3,620-3,630 yuan per tonne, narrowing downward by 20 yuan per tonne Prices narrowed in the country’s two major markets, with downstream buyers commencing their pre-holiday restocking, a Hangzhou-based trader said. Apart from ensuring that they have sufficient raw materials at hand, downstream buyers also typically step up on their steel...

Published

Miranda Song

January 09, 2019

10:01 GMT

Shanghai