CHINA HRC: Mills divided on export strategy

Chinese steelmakers appear to be divided on the approach to take with exports, with a major mill issuing a significantly lower offer than the rest of its peers on Thursday October 31, though that still failed to stimulate sales.

Eastern China (Shanghai): 3,500-3,520 yuan ($496-499) per tonne, unchanged
Northern China (Tangshan): 3,500 yuan per tonne, unchanged
Major Chinese steelmakers produced 3.27 million tonnes of HRC in the past week, up 207,800 tonnes from a week earlier, according to a local industry information provider.

HRC futures declined after these statistics were released, sparking bearish sentiment...


Jessica Zong

October 31, 2019

09:35 GMT