CHINA HRC: Inventory loss sends prices higher again after reaching two-year high earlier in November

China’s hot-rolled coil prices continued to gain after hitting a two-year high earlier this month, triggered by inventory losses, sources told Fastmarkets on Thursday November 26.

Domestic
Eastern China (Shanghai): 4,150-4,160 yuan ($631-632) per tonne, up 20 yuan per tonne
Trading activity picked up on Thursday after buyers slowed their purchasing activity earlier this week, with some buyers in a rush to restock having seen recent futures gains.
A Shanghai-based trader said that was partly because of inventory losses over the past week, which lifted market sentiment.

A domestic steel consultancy reported that...

Published

Miranda Song

November 26, 2020

10:02 GMT

Shanghai