CHINA HRC: Extended futures losses drive domestic spot prices to 6-week low

Domestic hot-rolled coil prices in China extended their losses, falling to their lowest in about six weeks on Thursday August 19; futures prices continued their decline on demand concerns and waning cost supports.

Domestic
Eastern China (Shanghai): 5,600-5,620 yuan ($863-866) per tonne, down by 90 yuan per tonne.
The most-traded HRC contract on the Shanghai Futures Exchange weakened for a second straight day on Thursday, touching a seven-week trough of 5,301 yuan per tonne before clawing back some losses to finish the day at 5,389 yuan per tonne.

Recent losses in HRC futures came as the most-active iron ore contract on the Dalian Commodity Exchange fell for a third straight day to...

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