CHINA HRC: Imported goods hurt market sentiment

China’s hot-rolled coil prices were largely unchanged on Thursday October 10 because although demand was robust, some participants were bearish on the price outlook after some buyers started selling imported goods from Russia.

Eastern China (Shanghai): 3,590-3,600 yuan ($502-503) per tonne, unchanged
Northern China (Tangshan): 3,540 yuan per tonne, unchanged
Spot prices were stable even though demand was robust, a Shanghai-based trader said.
Some participants were bearish on price outlook because some traders have started selling HRC of rerolling grade from Russia at prices which are similar to domestic ex-works levels, he said.

A batch of such goods is priced at around 3,550...


Miranda Song

October 10, 2019

11:40 GMT