Eastern China (Shanghai)
: 5,440-5,480 yuan ($850-857) per tonne, down by 100-110 yuan per tonne.
Two consecutive days of declines have sent the most-traded HRC contract on the Shanghai Futures Exchange to 5,280 yuan, giving back all the gains notched in the previous week.
The losses in HRC futures prices came in line with declines across the ferrous complex on a bearish outlook for demand. Growing inventories of steel products and recently released production and sales data for...