CHINA HRC: No trading activity ahead of public holiday; buyers expecting further price falls

China’s hot-rolled coil market saw little trading activity on Tuesday September 29, with buyers refraining from placing orders in the expectation of further price falls after the eight-day National Day Golden Week holiday, which starts on October 1.

Domestic
Eastern China (Shanghai): 3,810-3,830 yuan ($559-562) yuan per tonne, down 10 yuan per tonne
Sellers in Shanghai had to cut prices on Tuesday, with buyers in no rush to restock due to the widespread expectation of further price drops after the eight-day holiday.

That’s because some buyers believe HRC inventory will gain...

Published

Miranda Song

September 29, 2020

10:15 GMT

Shanghai