Spot prices for hot-rolled coil in China fell on Tuesday October 26 amid weakening demand and a weakening of the futures market on Monday night.
Domestic
Eastern China (Shanghai): 5,500-5,550 yuan ($862-870) per tonne, down by 50 yuan per tonne
The most-traded HRC contract on the Shanghai Futures Exchange fell sharply on Monday night, plunging to a four-month trough of 5,135 yuan per tonne during the session.
This led to spot prices falling on Tuesday, with weaker-than-expected demand during what is typically a peak season overshadowing supply reductions, a Shanghai-based industry analyst said.
A rebound in the futures market on Tuesday failed to push spot HRC prices...