CHINA HRC: Thin trading sends prices lower

China’s hot-rolled coil prices continued to fall on Wednesday August 21 due to thin trading despite gains in the futures market later in the day.

Domestic Eastern China (Shanghai): 3,690-3,710 yuan ($523-526) per tonne, down 20-30 yuan per tonne Northern China (Tangshan): 3,700 yuan per tonne, down 20-30 yuan per tonne Spot prices dropped after mills lowered their offers by 30-50 yuan per tonne in response to sparse trading over the past few days. Trading activity remained thin in the morning amid a declining futures market, which sent prices to around 3,690 yuan per tonne in Shanghai. An uptrend experienced by HRC futures in the afternoon nudged spot prices up to around...

Published

Miranda Song

August 21, 2019

11:27 GMT

Shanghai