Spot prices for hot-rolled coil in China's domestic market held stable on Monday September 13, supported by expectations of a decline in supply due to more local governments stepping up efforts to curb energy consumption.
Domestic
Eastern China (Shanghai): 5,850-5,900 yuan ($906-914) per tonne, narrowing downward by 20 yuan per tonne
Southwest China's Yunnan province requires steel mills across the region to cut production for September by at least 30% compared with their previous targets to control energy consumption, according to a notice from the province economic planner published by local media on Monday.
Even though the production cut in September can be made up in November and December, this move by Yunnan province has increased expectations of supply declines in the coming month.
Other provinces, including east China's Jiangsu and southwest China's Guangxi, have also...