CHINA HRC: Prices track rising futures amid release of GDP stats, expected supply drop

China’s hot-rolled coil prices bounced back on Monday July 15 after the futures market strengthened after the release of economic data for the first half, while expectations of a drop in supply provided additional support.

Domestic Eastern China (Shanghai): 3,850-3,870 yuan ($559-562) per tonne, widening upward by 10 yuan per tonne Northern China (Tianjin): 3,850-3,860 yuan per tonne, up 20 yuan per tonne Spot prices tracked the movement of the futures market during the day, after the National Bureau of Statistics announced that the country’s gross domestic product had grown by 6.3% in the first half of the year. This is in line with the Chinese government’s target, and, as the bureau put it, “within a reasonable range.” Trading...

Published

Miranda Song

July 15, 2019

12:28 GMT

Shanghai