CHINA HRC: Escalating US-China tensions spook ferrous market investors

China’s hot-rolled coil prices fell on Friday July 24, with investors fretting over the worsening relations between China and the United States.

Eastern China (Shanghai): 3,930-3,950 yuan ($561-564) per tonne, down 10-20 yuan per tonne
Northern China (Tangshan) - weekly assessment: 3,790-3,830 yuan per tonne, up 20-30 yuan per tonne

Trading across China was thin on Friday, with buyers in wait-and-see mode amid a slump in the futures market caused by the tit-for-tat measures by the US and China, after the US closed China's consulate in Houston, Texas, prompting China to close the US consulate in Chengdu, Sichuan, in retaliation.


Miranda Song

July 24, 2020

11:22 GMT