CHINA HRC: Trading activity drops on emerging caution

Trading activity in China’s hot-rolled coil market thinned on Thursday November 21, with participants exercising caution after several days of gains.

Domestic
Eastern China (Shanghai): 3,660-3,680 yuan ($521-524) per tonne, narrowing downward by 20 yuan per tonne
Northern China (Tangshan): 3,650-3,670 yuan per tonne, widening downward by 20 yuan per tonne
Buying slowed across the country, which exerted downward pressure on prices.
A Shanghai-based trader attributed this to buyers taking a breather to take stock of the market rather than rushing headlong into the market to restock after consecutive days of increases sent prices to a two-month high.

Despite the withdrawal, he expects prices...

Published

Miranda Song

November 21, 2019

10:05 GMT

Shanghai