CHINA HRC: Bearish outlook clouds domestic market despite stability

China’s domestic hot-rolled coil prices remained largely stable on Friday October 25 on steady demand, though market participants have a bearish outlook for the longer term.

Domestic Eastern China (Shanghai): 3,500-3,520 yuan ($495-498) per tonne, unchanged Northern China (Tangshan): 3,500 yuan per tonne, narrowing upward by 10 yuan per tonne Trading activity remained moderate in Shanghai, while that in Tangshan was described by a source there as “robust.” Additional support came from a tighter supply in the market, which resulted from mills being able to secure a substantial number of orders in the past couple of weeks by lowering their offers. But a trader in Shanghai cautions that market participants should not be too optimistic about...

Published

Miranda Song

October 25, 2019

11:41 GMT

Shanghai