CHINA HRC: Prices tumble on futures losses

China’s hot-rolled coil prices tumbled on Friday August 9 in line with losses in the futures market and with most participants being bearish on price trends.

Eastern China (Shanghai): 3,640-3,650 yuan ($516-518) per tonne, down 70-80 yuan per tonne
Northern China (Tangshan): 3,700 yuan per tonne, down 40 yuan per tonne
A Shanghai-based trader said it was hard to secure deals even if he cut prices to 3,640-3,650 yuan per tonne, with buyers now bearish on market momentum and expecting big drops in the futures market.

Qiu Yuecheng, the director of...


Miranda Song

August 09, 2019

11:10 GMT