CHINA HRC: Domestic prices strengthen on rising futures

Hot-rolled coil prices across China's domestic market cruised higher on Monday July 5, with the futures market riding an upward wave across the ferrous complex.

Domestic
Eastern China (Shanghai): 5,500-5,540 yuan ($851-858) per tonne, up by 60-70 yuan from 5,430-5,480 yuan per tonne.
The most-traded HRC contract on the Shanghai Futures Exchange gained more than 1% to end the day at 5,494 yuan per tonne - its highest close since June 11.

These gains came amid surging iron ore futures on the Dalian Commodity Exchange - the most-trade contract rose by almost 4% - on expectations of a...

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