CHINA HRC: Domestic prices dip on broad-based tumble

Prices of hot-rolled coil in China’s domestic market edged lower on Tuesday July 27 and futures prices fell due to Covid-19 concerns and stock price tumbles weighing on market sentiment, sources told Fastmarkets.

Domestic
Eastern China (Shanghai): 5,880-5,900 yuan ($907-910) per tonne, down by 10-20 yuan per tonne

The most-traded HRC contract on the Shanghai Futures Exchange slipped after hitting an intraday high of 6,046 yuan per tonne and finished the day lower than Monday’s close.

Market sentiment soured slightly on Tuesday due to a surge of local Covid-19 infections in the eastern province of Jiangsu, a tumble in the stock market and Beijing’s reiteration of the pledge to ensure stable supply and prices for commodities, a...

Published

Zihuan Pan

July 27, 2021

10:42 GMT

Shanghai