CHINA HRC: Buyers await lower export prices on weakening domestic market

China’s hot-rolled coil prices continued to fall on Friday February 28 amid thin trading, encouraging more overseas buyers to hold out for lower export offers.

Domestic
Eastern China (Shanghai): 3,480-3,500 yuan ($496-499) per tonne, down 30-40 yuan per tonne
Northern China (Tangshan): 3,240-3,250 yuan per tonne, down 40-50 yuan per tonne
Trading activity continued to weaken for a fourth day, which pushed down prices, several sources said.

Sellers in Shanghai started offering HRC at 3,500 yuan per tonne during the day but they were forced to lower their offers as a result of the...

Published

Miranda Song

February 28, 2020

10:40 GMT

Shanghai