Hot-rolled coil (HRC) prices in China's domestic market rose sharply on Monday August 30; news of production curbs raised futures prices to their highest in more than a week.
Domestic
Eastern China (Shanghai): 5,720-5,750 yuan ($884-888) per tonne, up by 70-120 yuan per tonne.
The most-traded HRC contract on the Shanghai Futures Exchange hit an intraday high of 5,654 yuan per tonne in early afternoon trading on Monday, its highest since August 18. It finished the day at 5,637 yuan per tonne, with market sentiment boosted by news of production curbs in major steelmaking areas, a Shanghai-based trader said.
Some mills in northeast China - Liaoning, Jilin and Heilongjiang provinces - have been required to cut production to prevent...