CHINA HRC: Importers raise bids on strengthening domestic market

China’s domestic hot-rolled coil prices continued to rise on Friday June 19 on robust trading, which motivated importers to raise their bids.

Eastern China (Shanghai): 3,750-3,770 yuan ($529-532) per tonne, up 60-70 yuan per tonne
Northern China (Tangshan) - weekly assessment: 3,650-3,680 yuan per tonne, up 50-70 yuan per tonne
Sources reported that trading activity in eastern China had picked up due to a supply shortage while that in the northern region was much thinner, with downstream buyers there putting off their purchases.

A Shanghai-based trader said inventory levels in Shanghai had been falling due to the reluctance of traders to sell to eastern China in the past few weeks. This is because margins for...


Miranda Song

June 19, 2020

10:54 GMT