CHINA HRC: Market quiet amid holiday mood, bearish sentiment

China’s hot-rolled coil market continued to be quiet on Wednesday January 22, with participants slowing down or suspending operations before the upcoming Chinese New Year holiday, while concerns have emerged over post-holiday demand due to the spread of a mysterious respiratory virus that has claimed several lives.

Domestic
Eastern China (Shanghai): 3,860-3,880 yuan ($559-562) per tonne, unchanged
Northern China (Tangshan): 3,590 yuan per tonne, unchanged
Most traders have suspended operations with many already on vacation before the week-long Chinese New Year holiday that officially starts on Friday January 24.
Mills kept offer prices unchanged from the past several days, but few deals have been made.

Market participants have raised...

Published

Miranda Song

January 22, 2020

09:10 GMT

Shanghai