CHINA HRC: Prices down on supply worries

China’s hot-rolled coil prices dropped on Wednesday April 24 after mills lowered offers amid weak demand and concerns over rising supply.

Domestic Eastern China (Shanghai): 3,990-4,000 yuan ($594-595) per tonne, down 20 yuan per tonne Northern China (Tianjin): 3,900-3,920 yuan per tonne, down 10-20 yuan per tonne Prices dropped after mills lowered offer prices in the morning session. A mill in northern China cut its offer prices by 40 yuan per tonne amid lackluster demand since last week. A source at an eastern China-based mill, meanwhile, said  his company's inventory levels are rising, adding that increased stockpiles are forcing...

Published

Miranda Song

April 24, 2019

11:30 GMT

Shanghai