CHINA HRC: Futures surge pushes domestic spot prices up

Prices of hot-rolled coil in China's domestic market rose for the third straight day on Tuesday August 24 following a surge in futures while the Shanghai Futures Exchange ferrous complex rose.

Domestic
Eastern China (Shanghai): 5,710-5,720 yuan ($881-883) per tonne, up by 20-50 yuan per tonne
The most-traded HRC contract on the SHFE surged by 140 yuan per tonne on Tuesday from the previous day's close, marking the biggest one-day gain in three weeks, buoyed by sharp gains in steelmaking raw materials' futures, a Shanghai-based analyst said.

The most-traded iron ore contract on the Dalian Commodity Exchange jumped 60.5 yuan per tonne - or 7.99% - on Tuesday, while increasing supply...

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