Domestic hot-rolled coil prices in China gained more upward momentum on Wednesday September 29, with sentiment supported by reduced production as a result of power cuts and a rush to meet energy consumption targets.
Domestic
Eastern China (Shanghai): 5,730-5,780 yuan ($886-894) per tonne, up by 10-30 yuan per tonne
HRC futures were more subdued during the day compared with the first two days of the week amid easing anticipation of pre-holiday stockpiling and the emergence of cautious sentiment due to the week-long National Day break being just around the corner, an industry analyst in Guangdong province said.
The most-traded HRC contract on the Shanghai Futures Exchange came off...