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.

Domestic
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.
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Published

Miranda Song

July 24, 2020

11:22 GMT

Shanghai