CHINA HRC: Rising inventories increase selling pressure

Eastern China’s hot-rolled coil prices weakened further on Friday June 14, with rising inventory levels putting pressure on sellers.

Domestic Eastern China (Shanghai): 3,800-3,810 yuan ($549-550) per tonne, down 20 yuan per tonne Northern China (Tianjin): 3,780-3,790 yuan per tonne, unchanged The domestic market remained inactive despite sellers making price cuts. A Tianjin-based trader pointed out that inventory levels had risen nationwide due to mills’ accelerating production recently. The spot HRC market saw an increase of 95,600 tonnes over the week to Thursday, according to a domestic steel consultancy. While it also said that mills’ stockpiles had fallen,...

Published

Miranda Song

June 14, 2019

11:45 GMT

Shanghai