CHINA HRC: Domestic prices drop, Beijing’s mixed messaging casts doubt on H2 steel cut plans

Prices of hot-rolled coil across China’s domestic market fell sharply on Monday August 2, while futures prices tumbled after Beijing’s latest comments on carbon emissions reductions sent confusion across the markets, sources told Fastmarkets.

Domestic Eastern China (Shanghai): 5,760-5,860 yuan ($892-907) per tonne, down by 150-240 yuan per tonne The most-traded HRC contract on the Shanghai Futures Exchange for October delivery slipped to a three-week low of 5,735 yuan per tonne in morning trade on Monday, before finishing the day at 5,780 yuan per tonne. China’s paramount decision-making body said on Friday July 30 that the country should put a break on "whirlwind campaigns" for carbon reduction amid its push for achieving...

Published

Zihuan Pan

August 02, 2021

11:02 GMT

Shanghai