CHINA HRC: Mills accept lower export prices amid dip in domestic market

China’s hot-rolled coil prices retreated from the previous day’s 26-month high on Thursday December 3, which motivated some mills to accept lower export prices.

Eastern China (Shanghai): 4,270-4,280 yuan ($651-652) per tonne, down 10-20 yuan per tonne
Several Shanghai-based traders said trading activity weakened on Thursday, with some buyers reluctant to restock because of losses on the futures market. Sellers had to cut prices to win orders, but they didn’t want to concede much, sources said.

A Shanghai-based trader said inventory nationwide remained low, motivating sellers to...


Miranda Song

December 03, 2020

09:38 GMT