CHINA HRC: Tangshan’s latest curbs on production likely to slow down decline in prices

China’s domestic hot-rolled coil prices fell further on Thursday October 28, but market participants expect the decline to slow down after the Tangshan steelmaking hub introduced stricter production restrictions.

Domestic
Eastern China (Shanghai): 5,290-5,300 yuan ($827-828) per tonne, down by 100-180 yuan per tonne
Sellers cut prices on Thursday morning to encourage higher sales volumes, but buyers were reluctant after the sharp drop in the futures market.

Market participant did regain some confidence after the announcement of stricter restrictions in Tangshan, however, because the...

Published

Jessica Zong

October 28, 2021

10:50 GMT

Shanghai