Domestic prices for hot-rolled coil in China were largely stable on Thursday September 23, while futures retreated in response to the spread of escalated production curbs to downstream users.
Domestic
Eastern China (Shanghai): 5,720-5,780 yuan ($886-895) per tonne, narrowing downward by 20 yuan per tonne
The most-traded HRC contract on the Shanghai Futures Exchange slipped to a three-week low of 5,585 yuan per tonne on Thursday, before regaining some of the losses to end the day at 5,612 yuan per tonne. This effectively negated the gains from Wednesday's rally.
Emerging concerns over steel demand being affected by a tightening of electricity supply in parts...