CHINA HRC: Prices down late afternoon on futures losses

Eastern China’s hot-rolled coil prices widened upward on Thursday June 27 amid fluctuations caused by movements in the futures market.

Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, widening upward 30 yuan per tonne Northern China (Tianjin): 3,840-3,850 yuan per tonne, unchanged Market participants in Shanghai rushed to buy at 3,830-3,850 yuan per tonne in the morning after HRC futures rose above spot prices. But they withdrew just as quickly after HRC futures retreated, which left products priced as low as 3,900 yuan per tonne having difficulty finding takers. A Hangzhou-based trading source said that this...

Published

Miranda Song

June 27, 2019

11:28 GMT

Shanghai