CHINA HRC: Domestic, export prices slip amid futures losses

The hot-rolled coil price in China's domestic market extended its losses on Wednesday June 16 after the futures price fell for a second straight day on pessimist views for near-term steel demand.

Domestic
Eastern China (Shanghai): 5,440-5,480 yuan ($850-857) per tonne, down by 100-110 yuan per tonne.
Two consecutive days of declines have sent the most-traded HRC contract on the Shanghai Futures Exchange to 5,280 yuan, giving back all the gains notched in the previous week.

The losses in HRC futures prices came in line with declines across the ferrous complex on a bearish outlook for demand. Growing inventories of steel products and recently released production and sales data for...

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