CHINA HRC: Some mills agree to lower export prices

China’s domestic hot-rolled coil prices experienced some recovery on Friday October 16, but some mills have made some export pricing concessions to boost trading.

Domestic
Eastern China (Shanghai): 3,890-3,900 yuan ($578-579) yuan per tonne, narrowing upward by 10 yuan per tonne
Northern China (Tangshan) - weekly assessment: 3,750-3,770 yuan per tonne, down 30-60 yuan per tonne
Prices in Shanghai regained some strength after downstream buyers stepped up on their purchases in the afternoon in response to gains in the futures market.
A Shanghai-based trader said downstream demand in eastern China was stable.

While some downstream consumers had hesitated about restocking earlier this week amid falling futures, he expects HRC...

Published

Miranda Song

October 16, 2020

10:30 GMT

Shanghai