CHINA HRC: Further price drops fuel concerns over losses among mills

China’s domestic hot-rolled coil prices continued to fall on Tuesday March 31, leaving market participants with the expectation that some flat steel producers would be making losses for some time.

Domestic
Eastern China (Shanghai): 3,280-3,290 yuan ($462-463) per tonne, down 10-20 yuan per tonne
Northern China (Tangshan): 3,250 yuan per tonne, down 10 yuan per tonne
Prices fell further during the day on a pessimistic outlook for demand, with downstream companies either reporting lower profits - even losses - due to a shrinking export market due to the Covid-19 pandemic.
Some 700,000 infections have been reported worldwide, according to the World Health Organization.

Countries such as Pakistan...

Published

Miranda Song

March 31, 2020

10:35 GMT

Shanghai