CHINA HRC: Export prices rise amid shrinking margins

Export prices for Chinese hot-rolled coil edged up further on Wednesday February 20, with exporters insisting on high offers amid expectations that the domestic market - though it weakened during the day - would pick up due to rising costs upstream.

Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($550-554) per tonne, down 30 yuan per tonne Northern China (Tianjin): 3,670-3,700 yuan per tonne, down 20-40 yuan per tonne HRC was traded as low as 3,720-3,730 yuan per tonne in Shanghai in the morning amid declining futures, but in the afternoon, sellers managed to push prices up to 3,730-3,750 yuan per tonne on robust trading activity. HRC futures also recovered in the afternoon to end the day higher than the preceding day’s closing price, which sources attributed...

Published

Miranda Song

February 20, 2019

10:26 GMT

Shanghai