CHINA HRC: Coronavirus-hit logistics leave heavy supply in the east

China’s hot-rolled coil prices weakened over the week to Tuesday March 17, with market participants reluctant to pay high prices for material on heavy supply, Fastmarkets heard.

Eastern China (Shanghai): 3,480-3,500 yuan ($497-500) per tonne, down 30 yuan per tonne
Northern China (Tangshan): 3,360 yuan per tonne, down 20 yuan per tonne
Sellers in Shanghai started with offers of 3,500-3,510 yuan per tonne in the morning, but were forced to lower to 3,480-3,500 yuan per tonne in the afternoon amid thin trading.
Trading activity picked up, however, after prices reached 3,480 yuan per tonne, a Shanghai-based trader said.

One Tianjin-based trader explained...


Miranda Song

March 17, 2020

09:55 GMT