Chinese HRC prices steady despite key lending rate cuts

Spot prices for hot-rolled coil in China were unchanged on Thursday January 20, while futures prices for the flat steel product also held steady despite the Chinese central bank announcing a cut to benchmark lending rates.

Domestic
Eastern China (Shanghai): 4,940-4,960 yuan ($778-781) per tonne, unchanged

On Thursday morning, the People’s Bank of China (PBOC) slashed the five-year loan prime rate by 5 basis...

Published

Paul Lim

Zihuan Pan

January 20, 2022

09:47 GMT

Shanghai, Singapore