CHINA HRC: Exporters keep prices high despite weakening domestic market

China’s hot-rolled coil market weakened on Wednesday June 3 on futures losses, but exporters kept offering high despite thin trading.

Domestic
Eastern China (Shanghai): 3,640-3,660 yuan ($512-515) per tonne, down 10-20 yuan per tonne
Sellers in Shanghai offered at 3,660 yuan per tonne this morning, but cut offers to around 3,640 yuan per tonne in the afternoon after market sentiment was dampened by futures losses.

Some market participants expect prices to drop further in the next few days because price growth over the past few days “was mainly due to lifted...

Published

Miranda Song

June 03, 2020

11:54 GMT

Shanghai