CHINA HRC: Domestic prices edge down but outlook bullish

Domestic prices for steel hot-rolled coil in China decreased slightly on Monday August 10 on weaker futures, but market sentiment remained optimistic on supportive economic data.

Fastmarkets assessed the price for steel HRC, domestic, ex-whs Eastern China (Shanghai), at 4,050-4,060 yuan ($581-583) per tonne on August 10, narrowing downward by 10 yuan per tonne from last Friday.

The lower HRC futures pushed spot prices downward slightly over trading on Monday, but market participants expected that prices would soon rebound because...


Jessica Zong

August 10, 2020

10:25 GMT