CHINA HRC: Pick-up in trading activity provides some support to prices

A slight increase in trading activity in northern China led to prices for hot-rolled coil edging up on Wednesday August 7, while those in the eastern region were supported by a trading spurt in the latter half of the day.

Domestic
Eastern China (Shanghai): 3,690-3,700 yuan ($524-525) per tonne, unchanged
Northern China (Tangshan): 3,740 yuan per tonne, up 10 yuan per tonne
A Shanghai-based trader said that he struggled to sell in the morning, even at prices as low as 3,690 yuan per tonne.

But in the afternoon, a few buyers rushed to place orders, even when sellers asked for 3,700 yuan per tonne, he said....

Published

Jessica Zong

Miranda Song

August 07, 2019

11:33 GMT

Shanghai