CHINA HRC: Downstream demand weakens amid rising Covid-19 infections, adverse weather

China’s hot-rolled coil markets dropped for a second consecutive day on Tuesday January 12 on inactive trading conditions.

Domestic
Eastern China (Shanghai): 4,550-4,570 yuan ($702-705) per tonne, down 60-80 yuan per tonne
A Shanghai-based trader said he received few orders from downstream buyers on Tuesday even though his offers were 60-80 yuan per tonne below those issued on Monday.
He said demand was low recently in downstream sectors, covering white goods, automotive and construction.

Some sources believe the...

Published

Miranda Song

January 12, 2021

11:19 GMT

Shanghai