CHINA HRC: Domestic prices rebound, skepticism over production cuts wanes

Prices of hot-rolled coil prices in China’s domestic market rose on Wednesday August 4, after two consecutive days of sharp losses. Market participants have seemingly shrugged off fears of an easing in the country’s plan of steel production curbs, sources told Fastmarkets.

Eastern China (Shanghai): 5,760-5,820 yuan ($891-900) per tonne, up by 70-100 yuan per tonne
Spot prices have regained much of Tuesday’s losses after fears that the country will slow down its steel product curbs caused by Beijing’s latest comments on the ongoing nationwide decarbonization push eased in the absence of any new market chatter or official announcements, industry analysts said.

Steel mills in the top steelmaking hub of Tangshan...


Zihuan Pan

August 04, 2021

10:15 GMT