CHINA HRC: Futures gains push up spot prices

China’s hot-rolled coil prices increased on Wednesday, October 28, boosted by gains in the futures market.

Eastern China (Shanghai):
 3,910-3,930 yuan ($583-586) per tonne, up 10 yuan per tonne
Spot prices in eastern China gained on Wednesday, with sellers motivated to raise their offers after seeing futures growth.
A Shanghai-based trader said prices were 3,910-3,920 yuan per tonne in the morning, but by late afternoon sellers were not accepting prices below 3,920-3,930 yuan per tonne.

Although trading activity was only moderate after prices increased,...


Miranda Song

October 28, 2020

10:31 GMT