CHINA HRC: Domestic prices continue to climb after sharp gains in futures

Hot-rolled coil prices in China’s domestic market continued their ascent on Friday June 11, with growing supply concerns fueling sharp increases in the ferrous futures market.

Domestic
Eastern China (Shanghai): 5,610-5,650 yuan ($878-884) per tonne, up by 10-30 yuan per tonne.
Northern China (Tangshan): weekly assessment: 5,540-5,580 yuan per tonne, narrowing upward by 20 yuan per tonne.
The ferrous complex posted strong performance across the board on Friday, gaining at least 3% from their Thursday’s closing prices.
News of production curbs in the port city of Qinhuangdao in Hebei province lent support to steel prices, a Tianjin-based trader told Fastmarkets.

Qinghuangdao has asked steelmakers to...

Published

Zihuan Pan

June 11, 2021

10:45 GMT

Shanghai