CHINA HRC: Spot trading stagnates after futures tumble again

Spot trading for hot-rolled coil in China stagnated in the afternoon of Thursday October 21 after the continued tumble in futures prices kept market participants cautious.

Domestic
Eastern China (Shanghai): 5,710-5,750 yuan ($892-898) per tonne, narrowing by 10-30 yuan per tonne
Spot HRC was traded at 5,710-5,750 yuan per tonne in Shanghai on Thursday morning, when the most-traded HRC contract on the Shanghai Futures Exchange edged higher after a sharp decline in the previous trading day.
The futures contract resumed its decline in afternoon trading, touching a four-month low of 5,200 yuan per tonne. The ferrous complex on the SHFE and Dalian Commodity Exchange slipped across the board with coke, coking coal and rebar hitting their daily downward trading limits.

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Published

Zihuan Pan

October 21, 2021

10:15 GMT

Shanghai