CHINA HRC: Growing supply concerns boost domestic prices

Domestic hot-rolled coil prices in China extended their gains on Monday September 6, with the latest data showing a further drop in supply despite the advent of the September-October peak demand season.

Domestic
Eastern China (Shanghai): 5,800-5,850 yuan ($899-906) per tonne, up by 40-50 yuan per tonne
The China Iron & Steel Association said on Saturday that the daily crude steel output of its member mills averaged 2.05 million tonnes over August 21-31, down 3.99% from August 11-20 and 4.98% lower year on year.

Another report from Cisa released late on Friday showed that inventory levels of HRC, hot-rolled plate and sheet held by traders across 20 major Chinese cities stood at 1.85 million tonnes at the end of...

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