CHINA HRC: A mill exports at low price, but higher values expected

China’s domestic hot-rolled coil prices gained on Monday December 23 as supply remained short in the east of the country, but a mill based in northern China exported material at a low level despite high offers, market participants said.

Domestic
Eastern China (Shanghai): 3,900-3,910 yuan ($556-558) per tonne, up 30 yuan per tonne
Northern China (Tangshan): 3,640-3,650 yuan per tonne, widening upward 10 yuan per tonne
It is hard to find HRC below 3,900 yuan per tonne in the east of China at present, because supply there remains relatively short, a Shanghai-based trader said.

He partly attributed the higher prices to a limit on sales at an eastern China-based mill, which is reserving material for delivery against the...

Published

Miranda Song

December 23, 2019

10:46 GMT

Shanghai