CHINA HRC: Moderate trading amid falling inventory

China’s domestic hot-rolled coil market saw moderate trading activity on Thursday May 21 amid a slight price drop, with sentiment being largely optimistic following the release of data showing declining inventory levels.

Domestic
Eastern China (Shanghai): 3,560-3,580 yuan ($501-504) per tonne, widening downward by 10 yuan per tonne
Northern China (Tangshan): 3,510-3,520 yuan per tonne, widening downward by 10 yuan per tonne
Sellers in Shanghai offered HRC at 3,560-3,570 yuan per tonne in the morning, down by 10 yuan per tonne from a day earlier when trading activity was slow.

But a strengthening of the futures market, which improved sentiment,...

Published

Miranda Song

May 21, 2020

11:55 GMT

Shanghai