CHINA HRC: Domestic prices stable while futures retreat

Hot-rolled coil prices across China's domestic market edged higher on Thursday July 15 while futures prices traded rangebound after Wednesday's sharp gains due to the increased likelihood of a drop in steel production in the second half of 2021, sources told Fastmarkets.

Domestic
Eastern China (Shanghai): 5,860-5,920 yuan ($907-916) per tonne, narrowing upward by 20 yuan per tonne
The most-traded HRC contract on the Shanghai Futures Exchange retreated after hitting a two-month high of 6,015 yuan per tonne on Thursday morning. It later pulled back and finished the day a tad lower than Wednesday's close.

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