CHINA HRC: Mills still bullish despite domestic price fall

China's domestic hot-rolled coil prices fell on Monday November 23, but mills maintained their export offers at high levels amid a bullish outlook.

Domestic
Eastern China (Shanghai): 4,120-4,140 yuan ($628-631) per tonne, down 20 yuan per tonne
Sources in Shanghai said that spot prices weakened after HRC futures fell.
Trading on Monday was also thin, they said.

A Tianjin-based trader said HRC futures had fallen in response to an overall weakening of ferrous markets, with some market participants expecting steel prices in China to weaken during the winter,...

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