Spot prices for hot-rolled coil in China fell further on Wednesday October 27, with the coal-led broad-based decline in the futures markets resuming following the state planner's latest attempt at cooling coal prices.
Domestic
Eastern China (Shanghai): 5,390-5,480 yuan ($843-857) per tonne, down by 70-110 yuan per tonne
Spot prices covered a wide range on Wednesday, as the most-traded HRC contract on the Shanghai Futures Exchange fell sharply to a five-month low of 5,015 yuan per tonne during the day. The intraday low was the lowest level since the contract touched 4,951 yuan per tonne on May 27, having dipped from a record high of 6,727 yuan per tonne on May 12.
Sharp losses in HRC spot and futures prices came as...