CHINA HRC: Trading muted ahead of National Day break

Spot prices for hot-rolled coil in China moved within a tight range on Thursday September 30 on thin trading ahead of a week-long holiday to mark the country’s National Day.

Domestic
Eastern China (Shanghai): 5,740-5,770 yuan ($888-893) per tonne, narrowed by 10 yuan per tonne from 5,730-5,780 yuan per tonne
Northern China (Tangshan): weekly assessment: 5,720-5,740 yuan per tonne, narrowed upward by 50 yuan per tonne
HRC prices in eastern China ended the week 50-60 yuan per tonne higher than last Friday’s 5,680-5,720 yuan per tonne.
The most-traded HRC contract on the Shanghai Futures Exchange edged up during the day. This is the fourth day of increases and a departure from two consecutive weeks of losses previously.

The price increases have come amid lower production due to power shortages across parts of China, as well as due to certain provincial government rushing to meet their targets for reducing energy...

Published

Paul Lim

Zihuan Pan

September 30, 2021

10:40 GMT

Shanghai, Singapore