Hot-rolled coil prices across China's domestic market moved in a smaller range on Thursday June 24 while futures prices took a respite from choppy trading in previous days, sources said.
Domestic
Eastern China (Shanghai): 5,300-5,360 yuan ($819-828) per tonne, narrowing by 20 yuan per tonne.
The most-traded HRC contract on the Shanghai Futures Exchange fell during the day, reversing gains from overnight trading to end the session slightly lower than Wednesday's close.
Changes in the contract have been smaller than half a percent for three consecutive days, suggesting that market participants have struggled to find a clear direction amid downward pressure from a seasonal demand lull, in addition to Beijing's continued efforts to stabilize the market, upward pressure from intensified coal shortages and potential restrictions ahead of July 1 - the centennial of the Communist Party of China.
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