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.

Domestic
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...

Published

Miranda Song

May 14, 2021

10:21 GMT

Shanghai