CHINA HRC: Prices rally on jump in futures

China’s hot-rolled coil prices rallied on Thursday February 25 following a jump in futures values, while exporters were hesitating over whether to restock because of recently doubled freight costs.

Eastern China (Shanghai): 4,870-4,950 yuan ($754-767) per tonne, up 40-110 yuan per tonne
A Shanghai-based trader said some downstream buyers started to book materials, although trading activity overall remained low.
He said some buyers were worried about further price rises, but many others were waiting for prices to retreat since they already have some material at hand.
Sellers kept asking higher prices throughout the day amid futures jumps, he said.

A Tianjin-based trader said trading activity in futures had been active recently amid fears over inflation, while many investors believe steel...


Miranda Song

February 25, 2021

11:13 GMT