Spot prices for hot-rolled coil in China rose sharply on Friday October 8 compared with the last trading day before the week-long public holiday, propelled by continued production curbs and a jump in iron ore prices.
Domestic
Eastern China (Shanghai): 5,820-5,870 yuan ($903-910) per tonne, up by 80-100 yuan per tonne
Northern China (Tangshan): weekly assessment: 5,780-5,800 yuan ($896-899) per tonne, up by 60 yuan per tonne
The most-traded HRC contract on the Shanghai Futures Exchange notched a four-week high of 5,893 yuan per tonne shortly after the reopening of trading, due to spot prices strengthening over the National Day holidays from October 1-7.
Lingering market optimism buoyed Chinese HRC prices amid limited signs of the easing of production curbs caused by electricity...