CHINA HRC: Growing supply putting pressure on prices

China’s hot-rolled coil prices dropped on Tuesday October 15, with sources raising concerns over the possibility of an oversupply in the market after steelmaking restrictions in the northern region were lifted after the country’s week-long National Day break.

Domestic
Eastern China (Shanghai): 3,530-3,550 yuan ($499-502) per tonne, down 50 yuan per tonne
Northern China (Tangshan): 3,530 yuan per tonne, down 20 yuan per tonne
A Shanghai-based trader said transaction prices moved lower and lower throughout the day amid thin trading.

A second source in the city said that he had sensed a bit of an oversupply this week after mills...

Published

Miranda Song

October 15, 2019

11:22 GMT

Shanghai