CHINA HRC: Domestic prices edge up amid lower interest rates, tightening production curbs

China’s hot-rolled coil prices gained some more strength on Monday August 19 on news of a revamp in interest rates as well as tighter steelmaking restrictions in the country’s northern region.

Domestic
Eastern China (Shanghai): 3,730-3,740 yuan ($530-531) per tonne, up 10 yuan per tonne
Northern China (Tangshan): 3,730 yuan per tonne, up 10 yuan per tonne
Prices in Shanghai rose as high as 3,740 yuan per tonne in the morning amid gains in the futures market that came amid improved sentiment following an announcement by China’s central bank last Saturday that it would implement reforms for a key interest rate to help lower borrowing costs for companies.

The reform...

Published

Miranda Song

August 19, 2019

11:42 GMT

Shanghai