CHINA HRC: Exporters cut offers despite stable domestic market

Chinese mills lowered export offers for hot-rolled coil on Tuesday October 22 despite a stable domestic market amid pressure from cheaper products offered by suppliers in other regions.

Domestic
Eastern China (Shanghai): 3,500-3,510 yuan ($495-496) per tonne, unchanged
Northern China (Tangshan): 3,480 yuan per tonne, unchanged
Trading was moderate during the day maid steady demand, which kept spot prices unchanged.
Some market participants think prices could rebound in the short term if demand stays stable, though sentiment has not improved enough to trigger such a recovery.

Even if prices do rebound, they are not expecting the recovery to be large, with new production lines scheduled to go on...

Published

Miranda Song

October 22, 2019

10:45 GMT

Shanghai