CHINA HRC: Prices rebound as power cuts weigh on steelmaking

China's domestic hot-rolled coil prices rebounded on Monday September 27, with futures charting a recovery amid news that tight electricity supply in China as well as local governments' rush to meet energy consumption targets were affecting steel production rates.

Domestic
Eastern China (Shanghai): 5,700-5,750 yuan ($882-890) per tonne, up by 20-30 yuan per tonne
The most-traded HRC contract on the Shanghai Futures Exchange rebounded from a month's low of 5,421 yuan per tonne on Monday after two consecutive days of substantial losses at the end of last week.

More than 10 Chinese provinces have cut off or limited electricity supply to energy-intensive sectors including steel to ease power shortages or as part of efforts to meet their annual targets of reducing energy...

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