CHINA HRC: Prices weaken amid slower buying

China’s hot-rolled coil prices weakened slightly on Monday April 19 amid slower trading activity.

Domestic
Eastern China (Shanghai): 5,480-5,500 yuan ($841-844) per tonne, narrowing downward by 10 yuan per tonne
Trading activity on Monday was weaker than Friday as a result of some downstream buyers waiting to see whether spot prices would fall further after futures prices lost momentum, according to several Shanghai-based traders.

Some market participants believe investors would prefer to invest in ferrous raw materials rather than the steel sector due to the higher potential for price growth in iron ore and coke...

Published

Miranda Song

April 19, 2021

09:56 GMT

Shanghai