CHINA HRC: Trading activity weakens on stimulus slowdown concerns

China’s hot-rolled coil prices weakened on Tuesday October 20 amid thinner trading, with some buyers in wait-and-see mode on expectations of price declines due to a slowdown in the release of further stimulus by the Chinese government.

Domestic
Eastern China (Shanghai): 3,880-3,900 yuan ($580-583) per tonne, widening downward by 10 yuan per tonne
A Shanghai-based trader said he garnered fewer deals on Tuesday compared to Monday amid slight price drops in the spot market.
That was because some buyers started to hold back from restocking, expecting prices to drop after the Chinese government had implemented fewer monetary easing policies of late.

In August, several media outlets reported that China would maintain a “normal” monetary policy, neither tightening nor easing the current monetary policy, after...

Published

Miranda Song

October 20, 2020

11:36 GMT

Shanghai