CHINA HRC: Mills keeping export offers high despite domestic price pressure

China’s domestic hot-rolled coil remained under pressure on Thursday February 13 amid low economic activity downstream, though major mills maintained their export offers at relatively high levels.

Domestic
Eastern China (Shanghai): 3,500-3,510 yuan ($502-504) per tonne, down 10 yuan per tonne
Northern China (Tangshan): 3,270 yuan per tonne, unchanged
Sellers in Shanghai were asking for 3,500-3,510 yuan per tonne during the day, but trading activity was sparse. Most deals were done at the lower end of that range.
A Shanghai-based trader said demand remained weak due to sustained logistical bottlenecks. Furthermore, only some companies downstream have returned to work.

Pessimism remained after a domestic steel consultancy reported that HRC inventory levels at...

Published

Miranda Song

February 13, 2020

10:41 GMT

Shanghai