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.

Domestic 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 metal research at Everbright Futures, said most traders at...

Published

Miranda Song

August 09, 2019

11:10 GMT

Shanghai