CHINA HRC: Exporters maintain offers despite domestic downtrend

China’s domestic hot-rolled coil prices continued to weaken on Friday September 27 but exporters of the product maintained their offers, though weakening demand is expected to put pressure on them to make concessions.

Eastern China (Shanghai): 3,600-3,610 yuan ($505-506) per tonne, narrowing downward by 20 yuan per tonne
Northern China (Tangshan): 3,520 yuan per tonne, down 30 yuan per tonne
Spot prices fell further amid declining futures, with sentiment continuing to deteriorate due to thin trading over the past few days.

This has been attributed to government-mandated production restrictions meant to improve air quality ahead of a military parade next week to mark China’s 70th National...


Miranda Song

September 27, 2019

11:53 GMT