CHINA HRC: Traders weigh weak demand against expected production cuts

China’s domestic hot-rolled coil prices largely softened on Wednesday July 21 amid a fluctuating futures market, with participants weighing the possible effects of expected production cuts against an ongoing summer lull.

Domestic
Eastern China (Shanghai): 5,860-5,880 yuan ($905-908) per tonne, narrowing by 10-50 yuan per tonne from 5,850-5,930 yuan per tonne

The most-traded October HRC contract ended the day lower after notching an intraday high of 6,024 yuan per tonne in overnight trading, with expectations of a drop in steel output in the remainder of the year being countered by sustained weakness in...

Published

Zihuan Pan

July 21, 2021

10:49 GMT

Shanghai