CHINA HRC: Overseas buyers await lower prices

China’s domestic hot-rolled coil prices were largely stable on Thursday November 28, while in the export market buyers were refraining from placing orders on expectation of possible price drops in the near future.

Eastern China (Shanghai): 3,690-3,720 yuan ($525-530) per tonne, unchanged
Northern China (Tangshan): 3,630 yuan per tonne, narrowing downward by 10 yuan per tonne
Trading activity picked up a bit in Shanghai after futures prices gained, bolstered by relatively positive sentiment, a trader there said.

Data showing a fall in inventory also helped bolster sentiment, after a domestic steel consultancy...


Miranda Song

November 28, 2019

09:29 GMT