CHINA HRC: Prices edge up on growing optimism

China’s hot-rolled coil prices picked up more strength on Friday January 18 on improved sentiment.

Domestic Eastern China (Shanghai): 3,650-3,670 yuan ($539-542) per tonne, up 20-30 yuan per tonne Northern China (Tianjin): 3,640-3,650 yuan per tonne, narrowing upward 50 yuan per tonne Although prices rose in Shanghai while those in Tianjin narrowed upward, a Hangzhou-based trader said these were largely due to an improved outlook for the market following the stability after the New Year, rather than an actual strengthening of downstream demand. A Shanghai-based trader said that trading activity was merely moderate during the day. While investors had been afraid of prices declining in the absence of any signs pointing...

Published

Miranda Song

January 18, 2019

11:05 GMT

Shanghai