CHINA HRC: Sellers push prices up amid rising costs

China’s hot-rolled coil market maintained its upward momentum on Thursday February 21, with sellers continuing to make attempts to prop up prices amid rising costs.

Domestic Eastern China (Shanghai): 3,760-3,790 yuan ($559-563) per tonne, up 40 yuan per tonne Northern China (Tianjin): 3,690-3,700 yuan per tonne, narrowing upward by 20 yuan per tonne Sellers in Shanghai started selling at around 3,790 yuan per tonne in the morning following gains in the futures market. But they had to lower prices to about 3,760-3,770 yuan per tonne in the afternoon amid buyer resistance. Despite the resistance, market participants believe HRC prices would remain high in the next few days with producers...

Published

Miranda Song

February 21, 2019

09:50 GMT

Shanghai