Chinese HRC prices rise on rallying ferrous futures

Spot prices for hot-rolled coil in China rose on Wednesday November 24, with ferrous futures rising across the board.

Domestic
Eastern China (Shanghai): 4,730-4,770 yuan ($740-747) per tonne, up by 50-80 yuan per tonne
The most-active HRC contract on the Shanghai Futures Exchange rose to an intraday high of 4,616 yuan per tonne - its highest in nearly two weeks - on Wednesday before closing at 4,599 yuan per tonne.
Sharp gains in the contracts for steelmaking raw materials - coke, coking coal and iron ore - and tightened production curbs in Tangshan city - China’s steelmaking hub - contributed to the gains in HRC prices, a Shanghai-based industry analyst said.

Tangshan, in northern China’s Hebei...

Published

Zihuan Pan

November 24, 2021

09:57 GMT

Shanghai