CHINA HRC: Imports continue amid high domestic prices

China’s domestic hot-rolled coil prices weakened on Wednesday May 20 amid futures losses, while traders continued to look for import opportunities with prices remaining high despite slight losses.

Domestic
Eastern China (Shanghai): 3,570-3,580 yuan ($502-504) per tonne, narrowing downward by 20 yuan per tonne
Northern China (Tangshan): 3,520 yuan per tonne, down 20 yuan per tonne
Sources across China told Fastmarkets that HRC prices have weakened and buyers have slowed the rate at which they place orders, with sentiment dented by losses in the futures market.

A Shanghai-based trader said downstream demand over the past few weeks has been robust, and his sales “have been slightly higher than a year ago”, which was believed to have bolstered the price growth in...

Published

Miranda Song

May 20, 2020

11:10 GMT

Shanghai