Hot-rolled coil prices across China's domestic market edged lower on Tuesday July 20 and futures prices fell following Beijing's latest pledge to ensure stable prices for commodities.
DomesticEastern China (Shanghai): 5,850-5,930 yuan ($903-915) per tonne, down by 20-30 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange slipped to a one-week low of 5,822 yuan per tonne in early morning trade on Tuesday, after market participants reacted to Beijing's fresh pledge to ensure stable prices for commodities. The National Development and Reform Commission (NDRC) said on Monday that the country will continue its efforts to ensure stable prices for commodities, increasing supervision of the futures and spot markets and cracking down on illegal activities.The contract later clawed back these losses to finish...