CHINA HRC: Likelihood of production cuts lift domestic prices to six-week highs

Domestic hot-rolled coil prices in China increased further on Friday September 10, hitting their highest levels since the start of August, with the expectations of tougher curbs on production supporting market sentiment.

Domestic
Eastern China (Shanghai): 5,850-5,920 yuan ($909-920) per tonne, up by 30-50 yuan per tonne
Northern China (Tangshan): weekly assessment: 5,780-5,830 yuan ($898-906) per tonne, up by 60-80 yuan per tonne
The most-traded HRC contract on the Shanghai Futures Exchange reached a high of 5,968 yuan per tonne in overnight trading, its highest level since August 2. It later pulled back and finished the day on Friday slightly lower than Thursday's close.

With shrinking output suggesting that China is on track to prevent its crude steel output from exceeding...

Published

Paul Lim

Zihuan Pan

September 10, 2021

11:32 GMT

Shanghai, Singapore