CHINA HRC: Some overseas buyers surrender to higher prices

Some overseas buyers have raised their bid prices for hot-rolled coil from China amid tighter global supply, although domestic Chinese prices were stable on Thursday December 19.

Domestic
Eastern China (Shanghai): 3,870-3,880 yuan ($552-554) per tonne, unchanged
Northern China (Tangshan): 3,640 yuan per tonne, unchanged
Trading nationwide was moderate on Thursday, which kept prices stable.
A Shanghai-based trader said inventory in eastern China remained relatively low, with one major mill in the region limiting sales to spare goods to be delivered to the Shanghai Futures Exchanges in January.

But demand overall was merely stable, with some buyers no longer in...

Published

Miranda Song

December 19, 2019

09:40 GMT

Shanghai