CHINA HRC: Domestic prices rise again amid choppy trading in futures market

Domestic hot-rolled coil prices in China rose for the fourth day in a row on Thursday July 8, with futures prices steady after the recent rally, which was sparked by growing expectations that steelmakers will be forced to limit production in the second half of the year.

Domestic
Eastern China (Shanghai): 5,700-5,770 yuan ($880-890) per tonne, up by 50 yuan from 5,650-5,720 yuan per tonne.
The most-traded HRC contract on the Shanghai Futures Exchange traded rangebound on Thursday, staying at around its seven-week high. That was a "normal" adjustment after three consecutive days of substantial gains, a Hangzhou-based trader said.

Trading activity across the spot market weakened slightly compared with Wednesday, but remained...

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