CHINA HRC: Prices rebound on high liquidity

China’s hot-rolled coil prices rallied on Wednesday July 29, triggered by futures gains amid high liquidity.

Domestic
Eastern China (Shanghai): 3,950-3,960 yuan ($564-566) per tonne, up 30-40 yuan per tonne
Spot prices made gains on Wednesday after trading turned active following a rebound in futures prices, sources said.
A Shanghai-based trader attributed this to bargain-hunting, with investors increasing their long-bidding positions in the futures market after prices plunged over the past few days.

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Published

Miranda Song

July 29, 2020

11:10 GMT

Shanghai