CHINA HRC: Tangshan's emission controls send prices to new highs

China’s domestic hot-rolled coil prices surged on Monday April 26 to reach their highest since July 2008, after local authorities in Tangshan, the country’s steelmaking hub in the northern region, ordered steelmakers to limit production rates to curb emissions until Tuesday.

Eastern China (Shanghai): 5,740-5,780 yuan ($884-890) per tonne, up 150-170 yuan per tonne
Several Shanghai-based traders said sellers were motivated to issue high offers due to a strengthening of the futures market in response to the Tangshan government ordering mills to suspend their sintering equipment.
That is to help curb pollution in northern China, it said in a document issued on Sunday.

Steelmakers that are already enjoying profit margins of 1,000-1,300 yuan per tonne for some time - especially private mills - will...


Miranda Song

April 26, 2021

10:30 GMT