CHINA HRC: Prices retreat on slow buying

Eastern China’s hot-rolled coil prices retreated on Wednesday June 12 after trading thinned following a short-lived rebound a day earlier.

Domestic Eastern China (Shanghai): 3,830-3,840 yuan ($554-555) per tonne, down 10 yuan per tonne Northern China (Tianjin): 3,780-3,800 yuan per tonne, unchanged Trading activity fell after prices bounced back on Tuesday, tracking an overall retreat in the country’s steel market. While prices for HRC dropped by 10 yuan per tonne in Shanghai, those for hot-rolled steel strip in northern China fell by up to 30 yuan per tonne due to the weakened buying interest. Sentiment deteriorated during the day in response to a softening of the futures market as quickly as it...

Published

Miranda Song

June 12, 2019

10:55 GMT

Shanghai