CHINA HRC: Domestic prices rebound amid supply drop

China’s spot hot-rolled coil prices rebounded on Thursday August 22 after the release of statistics showing a drop in inventory levels for the flat steel product.

Domestic Eastern China (Shanghai): 3,700-3,720 yuan ($524-527) per tonne, up 10 yuan per tonne Northern China (Tangshan): 3,700 yuan per tonne, unchanged Sellers were only to sell at around 3,700 yuan per tonne in the morning in Shanghai, when HRC futures trended downward. But in the afternoon, they were able to secure orders at 3,710-3,720 yuan per tonne after the futures market experienced a turnaround in response to data showing a supply drop in the market. Despite...

Published

Miranda Song

August 22, 2019

11:37 GMT

Shanghai