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...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold