CHINA HRC: Domestic prices rise on positive industry data; export market remains quiet

Prices of hot-rolled coil across China’s domestic market followed futures prices higher on Thursday July 29, while the export market remained muted amid persistent fears of changes in the export tax policy, sources told Fastmarkets.

Domestic
Eastern China (Shanghai): 5,920-5,950 yuan ($916-920) per tonne, up by 40-50 yuan per tonne
Gains in the most-traded HRC contract on the Shanghai Futures Exchange for October delivery accelerated in afternoon trade on Thursday because market sentiment was improved by industry data, a Hangzhou-based trader said.

The contract notched an intraday high of 6,113 yuan per tonne, its highest in two and a half...

Published

Zihuan Pan

July 29, 2021

11:41 GMT

Shanghai