CHINA HRC: Rising Covid-19 cases hit buyer sentiment

China’s domestic hot-rolled coil prices fell on Friday January 22 due to increasing Covid-19 infections that are dampening market sentiment.

Eastern China (Shanghai): 4,460-4,480 yuan ($690-693) per tonne, down 10-40 yuan per tonne 
Northern China (Tangshan) - weekly assessment: 4,330-4,380 yuan per tonne, down 30 yuan per tonne
Several Shanghai-based traders said trading weakened on Friday following losses on the futures market, with market sentiment hurt by the rising number of Covid-19 cases nationwide.
On Thursday, China reported 103 new Covid-19 cases, which brought the total active cases to 1,674, according to the National Health Commission.

Northern China which posted the biggest increase in Covid-19 cases in the country,...


Miranda Song

January 22, 2021

10:06 GMT