CHINA HRC: Speculators push domestic prices higher

The China hot-rolled coil (HRC) price gained on Friday January 25, with speculators pushing domestic prices higher while supply was shorter in the export market.

Domestic Eastern China (Shanghai): 3,760-3,770 yuan ($554-555) per tonne, up 40 yuan per tonne Northern China (Tianjin): 3,690-3,710 yuan per tonne, up 40 yuan per tonne There were few participants active in the spot market, with absent end-users and slowing operational rates before the Lunar New Year holiday. The week-holiday will start on February 4. Many producers will continue working during the holiday, but most end-users have already bought enough raw materials for holiday production, while mills secured enough orders to maintain output over the period. The main active participants for the time...

Published

Miranda Song

January 25, 2019

10:05 GMT

Shanghai