CHINA HRC: Prices down in Shanghai amid pessimism

Eastern China’s hot-rolled coil prices dipped on worsening sentiment on Tuesday January 29, though the rest of the Chinese market remained largely flat on thin trading.

Domestic Eastern China (Shanghai): 3,740-3,750 yuan ($555-556) per tonne, down 20 yuan per tonne Northern China (Tianjin): 3,690-3,710 yuan per tonne, unchanged Few deals were heard during the day, with most of the information available in the market being just offers from mills and traders, a Hangzhou-based trader said. Orders from traders also fell after HRC futures stopped rising during the day, which suggest there is less chance for them to profit by...

Published

Miranda Song

January 29, 2019

10:00 GMT

Shanghai