CHINA HRC: Mills raise offers amid pick-up in buying activity

China’s hot-rolled coil producers raised their offers on Friday November 15 on strong buying activity throughout this week.

Domestic
Eastern China (Shanghai): 3,590-3,600 yuan ($511-513) per tonne, up 10 yuan per tonne
Northern China (Tangshan): 3,560 yuan per tonne, unchanged
Spot prices in eastern China edged up after mills raised their offers by 20 yuan per tonne during the day in response to robust trading activity.
While transaction prices in Shanghai were largely at 3,590-3,600 yuan per tonne, thinner-gauge HRC commanded tens of yuan higher, a source in the city said.

This is due to tight supply of products of such specifications, with mills having cut...

Published

Miranda Song

November 15, 2019

10:25 GMT

Shanghai