CHINA HRC: Prices jump after iron ore reaches record high

China's hot-rolled coil prices jumped on Monday December 7 amid futures gains, with the ferrous market overall posting increases after iron ore reached a record high on Friday.

Domestic
Eastern China (Shanghai): 4,340-4,360 yuan ($665-668) per tonne, up 60-70 yuan per tonne
A Shanghai-based trader said sellers in the spot market increased their offers after seeing gains in the futures market, "especially after iron ore in the Dalian Commodity Exchanges (DCE) reached a record high on Friday."

He said many financial investors would be attracted to the ferrous sector after the most-traded January iron ore futures contract at the DCE closed...

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