CHINA HRC: Exporters aim for higher prices amid domestic gains

China’s hot-rolled coil exporters continued to aim for higher prices on Friday March 1 following futures-led gains in the domestic market.

Domestic Eastern China (Shanghai): 3,840-3,860 yuan ($574-577) per tonne, up 20-30 yuan per tonne Northern China (Tianjin): 3,760-3,820 yuan per tonne, up 20-60 yuan per tonne Further gains in the future market gave spot prices more upward momentum during the day. Traders had recently started to short-sell in the futures market while buying physical cargoes amid expectations that the former would fall. But a source in Hangzhou expressed reservations about this strategy, pointing out that trading activity would soon shift to the October HRC futures...

Published

Miranda Song

March 01, 2019

11:30 GMT

Shanghai