CHINA HRC: Exporters not budging on prices despite domestic decline

Optimism among China’s hot-rolled coil exporters led to them resisting the pressure to lower their prices on Thursday July 18 despite a retreat in the domestic market.

Domestic Eastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, down 10 yuan per tonne Northern China (Tianjin): 3,840-3,860 yuan per tonne, widening downward by 10 yuan per tonne Spot prices weakened across the country with trading activity falling from levels seen a day earlier. A Shanghai-based trader said this was due to sentiment being dampened by a drop in the futures market after several domestic steel consultancies reported an increase in HRC inventory levels nationwide over the past week despite ongoing production cuts in the northern region. A Beijing-based source said...

Published

Miranda Song

July 18, 2019

12:16 GMT

Shanghai