CHINA HRC: Prices tumble after official talks about curbing commodity price growth

China’s hot-rolled coil prices tumbled on Friday May 14 after authorities the Tangshan steelmaking hub in northern China, summoned local steel producers for talks about curbing price growth.

Eastern China (Shanghai): 6,160-6,450 yuan ($955-1,000) per tonne, down 360-460 yuan per tonne
Northern China (Tangshan) - weekly assessment: 6,500-6,600 yuan per tonne, up 560-650 yuan per tonne
Spot sellers in Shanghai were offering HRC at 6,400-6,450 yuan per tonne on Friday morning, but cut prices to 6,160-6,200 yuan per tonne in the afternoon after the futures prices plummeted by the daily limit of 6%.

That was after the administration...


Miranda Song

May 14, 2021

10:21 GMT