CHINA HRC: Bearish outlook remains despite steady buying

China’s domestic hot-rolled coil prices were mixed on Monday October 21, with those in the eastern region gaining some stability while the market in the north weakened further.

Domestic
Eastern China (Shanghai): 3,500-3,510 yuan ($494-496) per tonne, narrowing upward by 10 yuan per tonne
Northern China (Tangshan): 3,480 yuan per tonne, down 10 yuan per tonne
Mills in northern China lowered their offers, which led to prices continuing to fall in the region.

A source at a steelmaker in the north said that mills had lowered their offers despite having secured many bookings recently to maintain...

Published

Miranda Song

October 21, 2019

11:20 GMT

Shanghai