China's domestic hot-rolled coil market came under pressure from high production rates coupled with weakening demand on Wednesday May 29, resulting in prices falling.
DomesticEastern China (Shanghai): 3,970-3,980 yuan ($575-576) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,880-3,900 yuan per tonne, down 10-20 yuan per tonneHRC producers have kept their production rates high in the past few months on healthy profits. Their increased productivity continued in May, weighing on prices, market sources said.But end-user demand for HRC is weakening as...