CHINA HRC: Low operating rates downstream weigh on prices in northern region

China’s hot-rolled coil prices rose in the eastern region but weakened in the north on Monday February 24 on mixed sentiments caused by downstream industries’ low operating rates despite many companies having resumed work.

Domestic
Eastern China (Shanghai): 3,550-3,570 yuan ($505-508) per tonne, up 50 yuan per tonne
Northern China (Tangshan): 3,350-3,360 yuan per tonne, narrowing downward by 20 yuan per tonne
In Shanghai, sellers started asking for 3,550 yuan per tonne before raising their offers to 3,560-3,570 yuan per tonne in the afternoon amid a pick-up in trading.

Sales remained largely just about half the levels before the novel coronavirus (2019-nCoV) outbreak in China, which has resulted in more than...

Published

Miranda Song

February 24, 2020

10:45 GMT

Shanghai