CHINA HRC: Export market quiet, buyers waiting for lower offers

China’s hot-rolled coil prices dropped on Thursday March 19 after a slump in futures in the morning, while buyers sat on the sidelines in the export market waiting for lower offers.

Eastern China (Shanghai): 3,440-3,460 yuan ($489-492) per tonne, down 40 yuan per tonne
Northern China (Tangshan): 3,350 yuan per tonne, down 10-30 yuan per tonne
Spot trading domestically was “moderate overall,” sources told Fastmarkets, with few buyers willing to pay in the morning amid a slump in futures, but a rush to restock in the afternoon after a futures rebound.

A Tianjin-based trader said market participants were confused about...


Miranda Song

March 19, 2020

10:51 GMT