CHINA HRC: Futures gains push spot market higher

China’s hot-rolled coil prices rose on Tuesday May 21 after trading turned more active following gains in the futures market.

Domestic Eastern China (Shanghai): 4,000-4,040 yuan ($578-584) per tonne, widening upward 30 yuan per tonne Northern China (Tianjin): 3,900-3,920 yuan per tonne, widening upward 10 yuan per tonne While sellers started with prices of around 4,000 yuan per tonne in Shanghai in the morning trading session, by the afternoon buyers could only get goods at around 4,040 yuan per tonne, with trading activity boosted by improved market sentiment. A Shanghai-based trader believed the higher price was partly because some buyers had to accelerate buying after “having...

Published

Miranda Song

May 21, 2019

10:40 GMT

Shanghai