CHINA HRC: Prices at 13-year high on restocking demand

China’s hot-rolled coil (HRC) prices gained further after hitting their highest since July 2008 in March, although trading activity weakened from Friday April 1, sources said.

Domestic
Eastern China (Shanghai): 5,540-5,560 yuan ($844-847) per tonne, up 40-80 yuan per tonne
Spot market sellers raised offers on Tuesday, the first trading day after the three-day Qing Ming Festival holiday, leading to futures gains, sources said.
One Shanghai-based trader said spot market trading weakened from last Friday but demand overall remained strong because some downstream buyers rushed to restock in fear of further price gains.

HRC prices in Tangshan are higher than...

Published

Miranda Song

April 06, 2021

11:05 GMT

Shanghai