CHINA HRC: Mills raise export offers on bullish sentiment

China’s domestic prices for hot-rolled coil moved down slightly on Tuesday March 5 amid falling futures, but mills raised their export offers on optimism for demand to pick up in both locally and abroad.

Domestic Eastern China (Shanghai): 3,850-3,880 yuan ($574-579) per tonne, down 20 yuan per tonne Northern China (Tianjin): 3,780-3,800 yuan per tonne, down 10-20 yuan per tonne Losses in the futures market weighed on spot prices during the day. Traders lowered their offers in the hopes of stimulating sales, but buyers cut down on their procurements rates in anticipation of even lower prices. Downstream industries were described as “not very strong”, and HRC consumers are only buying...

Published

Jessica Zong

March 05, 2019

09:38 GMT

Shanghai