CHINA HRC: Falling futures put pressure on spot prices

China’s hot-rolled coil prices slid further on Friday October 18 although demand was stable, amid dampened sentiment due to a weakening of the futures market.

Eastern China (Shanghai): 3,490-3,510 yuan ($493-495) per tonne, widened downward by 10 yuan per tonne
Northern China (Tangshan): 3,490 yuan per tonne, down 10 yuan per tonne
A trader in Shanghai said that prices had weakened despite stable demand as a result of falling futures.

He explained that short-selling traders were pushing prices down in the futures market. These traders could...


Miranda Song

October 18, 2019

12:11 GMT