CHINA HRC: Domestic prices rise following futures jump

Hot-rolled coil prices across China's domestic market resumed their rally on Wednesday July 14, after futures prices jumped in response to the latest industry data confirming expectations of a drop in steel production in the second half of 2021.

Domestic
Eastern China (Shanghai): 5,840-5,920 yuan ($902-914) per tonne, up by 60-100 yuan per tonne.
The most-traded HRC contract on the Shanghai Futures Exchange climbed up on Wednesday, ending at an intraday high of 5,999 yuan per tonne, its highest close in a month.

Output of finished steel from major steelmakers in China averaged 1.96 million tonnes in the first 10 days of July, according...

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