CHINA HRC: Prices flat, but rising output dampens sentiment

Trading activity in China’s hot-rolled coil market thinned on Thursday November 7 while prices stayed flat, with sentiment dampened by rising output.

Domestic Eastern China (Shanghai): 3,540-3,550 yuan ($505-507) per tonne, unchanged Northern China (Tangshan): 3,540 yuan per tonne, unchanged A trader in Shanghai said buying slowed during the day despite steady prices, with rising output resulting in sentiment deteriorating even though inventory levels remained low. Mills in China produced 3.34 million tonnes of HRC in the week to Thursday, up 74,500 tonnes from a week earlier, according to a domestic steel consultancy. But HRC inventory levels in the spot market fell 107,300 tonnes on...

Published

Miranda Song

November 07, 2019

10:29 GMT

Shanghai