Chinese HRC prices edge down amid poor demand, new Covid variant concerns

Spot prices for hot-rolled coil in China inched lower on Monday November 29, with market sentiment subdued by continued demand weakness and concerns over the new Covid variant.

Domestic
Eastern China (Shanghai): 4,700-4,730 yuan ($737-741) per tonne, down by 20-50 yuan per tonne
The most-traded HRC contract on the Shanghai Futures Exchange weakened after rebounding to an intraday high of 4,601 yuan per tonne, with upward momentum limited by continued weakness in demand and a possible supply increase, a Shanghai-based industry analyst said.

Expectations have emerged that some...

Published

Zihuan Pan

November 29, 2021

11:08 GMT

Shanghai