CHINA HRC: Trading activity weakens amid inventory rebound

China’s hot-rolled coil prices rose further to their highest in nearly 13 years on Wednesday April 7, though trading activity weakened amid rising inventory levels, sources told Fastmarkets.

Eastern China (Shanghai): 5,550-5,570 yuan ($848-851) per tonne, up 10 yuan per tonne
Several traders in Shanghai said sellers in the spot market issued high offers in the morning but had to make reductions in the afternoon after a weakening of the futures market.
But transaction prices still edged up from a day earlier.
A Shanghai-based trader said trading activity on Wednesday was weaker than a week earlier, partly due to sentiment being dampened by increased inventory levels, which also affected the futures market.

His company reported...


Miranda Song

April 07, 2021

10:18 GMT