CHINA HRC: Prices weaken amid widespread floods

China’s domestic hot-rolled coil prices fell on Monday June 29 amid thin trading resulting from floods in various parts of the country.

Domestic
Eastern China (Shanghai): 3,710-3,730 yuan ($524-527) per tonne, down 10-20 yuan per tonne
A Shanghai-based trader said that floods and heavy rain across the country had let to a weakening of HRC demand.
Local media reported last Saturday that floods across 26 provinces in China had caused economic losses amounting to some 27.8 billion yuan.
Meanwhile, inventory levels continue to rise.

A domestic steel consultancy reported on Monday that HRC inventory in...

Published

Miranda Song

June 29, 2020

11:31 GMT

Shanghai