CHINA HRC: Export prices surge on Biden presidency

November 10, 2020 / www.metalbulletin.com / Article Link

China's hot-rolled coil exporters raised offers significantly on Monday November 9 despite thin trading, triggered by slumps in the United States dollar caused by investor expectations of monetary easing in the United States after Joe Biden's presidential election triumph.

Domestic
Eastern China (Shanghai): 4,080-4,100 yuan ($617-620) per tonne, up 40 yuan per tonne
Trading was active in the domestic spot market with ferrous commodities overall posting price gains amid the country's financial market strength.

A Shanghai-based trader said his customers were in a rush to restock due to HRC futures gains. He believes the strong futures prices were due to domestic investors' buoyant sentiment in financial markets following Joe Biden's victory in the...

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