CHINA HRC: Mills offering February deliveries at lower prices

China’s hot-rolled coil prices rose on Friday October 30 amid futures gains, although some mills were offering February deliveries at lower prices, sources told Fastmarkets.

Eastern China (Shanghai): 3,940-3,960 yuan ($587-590) per tonne, up 20-30 yuan per tonne
Northern China (Tangshan) - weekly assessment: 3,760-3,800 yuan per tonne, up 10-30 yuan per tonne
A Shanghai-based trader said most sellers there had raised their offers after seeing futures gains, although trading activity was only moderate.
He said spot prices had stayed high because HRC inventories in eastern China have been dropping recently.

That was because fewer traders have been selling HRC...


Miranda Song

October 30, 2020

10:18 GMT