Chinese HRC prices push up on hopes of stimulus package

Spot prices for hot-rolled coil in China increased on Monday December 6, supported by rising hopes of stimulus measures after China’s Premier promised to cut the reserve requirement ratio (RRR).

Eastern China (Shanghai): 4,840-4,880 yuan ($760-766) per tonne, up by 20-30 yuan per tonne
The most-traded HRC contract on the Shanghai Futures Exchange jumped to an intraday high of 4,650 yuan per tonne during night trading last Friday.

In a video conference with the managing director of the International Monetary Fund on December 3, Chinese Premier Li Keqiang said that China would cut the RRR - the amount of cash that banks must hold as reserves, which reduces the amount available for investment - “at an appropriate...


Zihuan Pan

December 06, 2021

10:55 GMT

Shanghai, Singapore