CHINA HRC: Overseas buyers forced to accept price hikes on higher offers globally

China’s hot-rolled coil prices weakened domestically on Friday December 6, while in those in the export market rose in line with higher offers from several countries.

Eastern China (Shanghai): 3,760-3,770 yuan ($535-536) per tonne, down 10-30 yuan per tonne
Northern China (Tangshan): 3,630 yuan per tonne, down 10 yuan per tonne

A Shanghai-based trader said trading weakened in the spot market on Friday, partly because some securities companies reduced their procurement rates after seeing prices drop in the futures market – securities companies often do spot and futures trading simultaneously...


Miranda Song

December 06, 2019

09:52 GMT