CHINA HRC: Futures slump on global lockdowns amid coronavirus spread

China’s hot-rolled coil prices slumped on Monday March 23, with sentiment dampened after futures prices plunged amid global lockdowns due to the novel coronavirus (2019-nCoV) spread.

Eastern China (Shanghai): 3,370-3,400 yuan ($475-479) per tonne, down 50-70 yuan per tonne
Northern China (Tangshan): 3,260-3,280 yuan per tonne, down 70-90 yuan per tonne
Several traders said that sellers had to cut offers today following slumps in the futures market, but trading is still active at the low end of the price ranges.

This means China is still seeing stable demand but sentiment has been hit by the bearish...


Miranda Song

March 23, 2020

10:00 GMT