CHINA HRC: Prices rise but buyers withdraw

China’s hot-rolled coil market rebounded on Tuesday July 9 amid rising futures and higher offers issued by mills, though trading activity thinned after the spot price gains.

Domestic Eastern China (Shanghai): 3,920-3,940 yuan ($569-572) per tonne, up 60-70 yuan per tonne Northern China (Tianjin): 3,840-3,860 yuan per tonne, up 10-20 yuan per tonne Spot prices surged in Shanghai following gains in the futures market and with mills offering their products at higher levels. But trading activity dropped in the afternoon after buyers refused to give in to the higher prices. A trader in the region said most transactions were concluded at the higher end of the assessed price range in the...

Published

Miranda Song

July 09, 2019

10:44 GMT

Shanghai