CHINA HRC: Domestic prices rise on emerging production cap

Domestic prices for hot-rolled coil in China cruised higher on Friday July 23 after the country's third-largest steelmaking province announced a ceiling for its crude steel output for 2021.

Domestic
Eastern China (Shanghai): 5,860-5,910 yuan ($905-913) per tonne, up by 10-60 yuan per tonne
Northern China (Tangshan) weekly assessment: 5,720-5,730 yuan ($884-885) per tonne, up by 10 yuan per tonne
The eastern Chinese province of Shandong has set a target ceiling of 76.5 million tonnes for its crude steel output this year, according to local media reports.

Data from the National Bureau of Statistics shows that the province produced 45.26 million tonnes of crude steel in the first half of this year, making it the third-largest steelmaking province...

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