CHINA HRC: Prices fall on profit taking in futures market

China’s hot-rolled coil prices fell on Monday January 11 amid decreases in the futures market resulting from profit taking.

Eastern China (Shanghai): 4,610-4,650 yuan ($712-718) per tonne, down 70-80 yuan per tonne
Several Shanghai-based trader said that sellers offered cargoes at 4,630-4,650 yuan per tonne in the morning before lowering their offers to only 4,610-4,630 yuan per tonne in the afternoon due to an inactive market.
One of them said that spot prices were tracking the decreases in the futures market, which in turn was sparked by profit taking.

He said many traders who had entered...


Miranda Song

January 11, 2021

10:05 GMT