CHINA HRC: Domestic prices steady amid production curbs, demand weakness

September 08, 2021 / www.metalbulletin.com / Article Link

Spot prices for hot-rolled coil prices in China's domestic market were unchanged on Tuesday September 7, subdued by continued weakness in demand but supported by the ongoing production curbs.

Domestic
Eastern China (Shanghai): 5,800-5,850 yuan ($898-905) per tonne, unchanged
The most-traded HRC contract on the Shanghai Futures Exchange hit 5,889 yuan per tonne in overnight trading, its highest price since August 12, but it slipped to an intraday low of 5,773 yuan per tonne in morning trading on Tuesday.
Optimism over production curbs supported steel prices, while weak demand in the spot market exerted downward pressure on prices, a Shanghai-based trader said.

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