CHINA HRC: Prices fall amid slowing market

Domestic hot-rolled coil prices in China retreated on Friday March 22 amid declining trading activity, weighing on sentiment in the export market.

Domestic Eastern China (Shanghai): 3,850-3,870 yuan ($575-578) per tonne, down 20 yuan per tonne Northern China (Tianjin): 3,800-3,810 yuan per tonne, down 30-40 yuan per tonne Trading activity continued to drop during the day, with demand becoming less robust since buyers had been stocking up on materials since late last week following the announcement of an impending reduction of the country’s value-added tax. A trader in Tianjin said that the strength in the domestic market this week hinged on the expectation...

Published

Miranda Song

March 22, 2019

10:25 GMT

Shanghai