CHINA HRC: Domestic prices rise on increasingly likely production cuts

Hot-rolled coil prices across China’s domestic market moved higher on Monday July 19, while futures prices rose with participants' expectations of lower production due to power supply restrictions in some regions and production curbs in the top steelmaking hub of Tangshan, sources told Fastmarkets.

Eastern China (Shanghai): 5,880-5,950 yuan ($907-918) per tonne, up by 20-50 yuan per tonne
Market expectations of a drop in steel output increased on Monday due to reports that steelmakers in southwest China’s Yunnan and central China’s Henan provinces will have to cut productions due to power supply shortages, and Tangshan’s temporarily higher production curbs to combat ozone pollution.

That pushed the...


Zihuan Pan

July 19, 2021

11:06 GMT