CHINA HRC: Prices flat but pessimism emerges on lower PMI

Domestic hot-rolled coil prices in China remained flat for a fifth day on Friday November 1, but sentiment in the market has deteriorated following the release of the country’s latest manufacturing purchasing managers’ index (PMI).

Eastern China (Shanghai): 3,500-3,520 yuan ($497-500) per tonne, unchanged
Northern China (Tangshan): 3,500 yuan per tonne, unchanged

China’s manufacturing PMI for October was 49.3, down 0.5 points from September, according to the National Bureau of Statistics. A PMI reading below 50 indicates a contraction....


Jessica Zong

November 01, 2019

09:55 GMT