CHINA HRC: Traders optimistic about export prices despite domestic decreases

China’s domestic hot-rolled coil prices dipped on Monday July 27, but sources are still expecting export prices to remain stable due to mills not being in any rush to sell.

Domestic
Eastern China (Shanghai): 3,920-3,930 yuan ($559-560) per tonne, down 10-20 yuan per tonne
Domestic HRC prices fell during the day amid falling futures.
Most market participants believe China’s ferrous futures market will continue to weaken in the next few days amid escalating tensions between the country and the United States.

On Monday morning, Chinese authorities took over the premises of the US consulate in Chengdu, after ordering its closure last week in response to a similar move that the US imposed on...

Published

Miranda Song

July 27, 2020

11:31 GMT

Shanghai