Hot-rolled coil prices in China's domestic market trended higher on Thursday June 3, following gains in the futures markets, but export prices dropped due to weak demand.
Domestic
Eastern China (Shanghai): 5,550-5,600 yuan ($869-876) per tonne, up by 30-70 yuan per tonne.
With ferrous metals prices rising across the board, the most-traded HRC contract on the Shanghai Futures Exchange for October delivery resumed its rally and jumped 185 yuan per tonne on Thursday.
Compared with futures prices, however, spot HRC prices in China's domestic market saw smaller gains on Thursday.
Market participants seemed happy with the increases and the fact that there was active trading.
Export
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