CHINA HRC: Sellers maintain prices on robust demand ahead of VAT cut

Chinese hot-rolled coil sellers kept prices steady on Tuesday March 19 on robust domestic demand ahead of a decrease of the country’s value-added tax.

Domestic
Eastern China (Shanghai): 3,850-3,870 yuan ($573-576) per tonne, widening downward by 10 yuan per tonne
Northern China (Tianjin): 3,810-3,830 yuan per tonne, unchanged
Prices were largely stable in both eastern and northern China, with buyers still snapping up materials before the VAT rate for the manufacturing sector is lowered to 13% from 16% on April 1.

Published

Miranda Song

March 19, 2019

10:02 GMT

Shanghai