CHINA HRC: Domestic market stabilizes on returning businesses, coronavirus optimism

Exporters of Chinese hot-rolled coil lowered their offers further to stimulate sales amid high inventory levels despite a relatively stable domestic market on Wednesday February 19.

Eastern China (Shanghai): 3,480-3,490 yuan ($497-499) per tonne, narrowing upward by 10 yuan per tonne
Northern China (Tangshan): 3,230 yuan per tonne, unchanged
A Shanghai-based trader said prices in the city narrowed upward after trading activity experienced a slight pick-up, although sales at the company he works for are only about a third of normal rates before the novel coronavirus (2019-nCoV) outbreak.

The virus has infected over 70,000 people in China and resulted...


Miranda Song

February 19, 2020

09:48 GMT