CHINA HRC: Price decline stemmed by winter production cuts plan

Spot prices for hot-rolled coil in China narrowed on Thursday October 14, while futures prices edged higher on expectations that production curbs in north China could extend into early 2022.

Domestic
Eastern China (Shanghai): 5,740-5,790 yuan ($892-900) per tonne, narrowing by 40-90 yuan per tonne
On Wednesday, China’s industry and environment ministries released the plan for steel production curbs in Beijing-Tianjin-Hebei and nearby regions for the 2021-2022 winter heating season. The finalized plan is largely in line with the draft plan released in early September.

Steel mills in the targeted regions should continue their efforts to meet their goals of crude steel output reduction for 2021 between November 15 to the end of the year. Then, from the beginning of next year until March 15, mills will be...

Published

Zihuan Pan

October 14, 2021

11:08 GMT

Shanghai, Singapore