CHINA HRC: Prices rise on declining inventories, buyers cautious

China’s domestic hot-rolled coil prices continued to rise on Thursday May 28 after a reduction in inventories improved sentiment, but trading was limited because buyers were reluctant to pay more, sources told Fastmarkets.

Domestic
Eastern China (Shanghai): 3,540-3,550 yuan ($494-496) per tonne, up 10-30 yuan per tonne
Northern China (Tangshan): 3,500-3,510 yuan per tonne, up 20-30 yuan per tonne
Optimism over the general domestic HRC price trend grew after market participants heard about the reduction in stock levels.

A domestic steel consultancy said that China’s spot market HRC inventories totaled 2.91 million tonnes on...

Published

Miranda Song

May 28, 2020

11:12 GMT

Shanghai