CHINA HRC: Futures fall on profit-taking

China’s hot-rolled coil prices fell on Thursday June 4 after futures prices plunged in the afternoon, but exporters maintain their high offers in a wait-and-see position, sources said.

Domestic
Eastern China (Shanghai): 3,620-3,640 yuan ($509-512) per tonne, down 20 yuan per tonne
A Shanghai-based trader said sellers there offered 3,640 yuan per tonne in the morning, but then cut prices in the afternoon on inactive trading.
A Tianjin-based trader said trading in the north also weakened, but mills kept prices high because they received enough orders in the past few days.

Such changes followed slumps in...

Published

Miranda Song

June 04, 2020

11:25 GMT

Shanghai