CHINA HRC: Prices steady despite futures jump

Domestic hot-rolled coil prices in China were largely stable but in a wider range on Wednesday September 22, even as futures prices in the ferrous complex jumped on the first trading day after a three-day holiday for the Mid-Autumn Festival.

Domestic
Eastern China (Shanghai): 5,720-5,800 yuan ($885-897) per tonne, widening by 10-20 yuan per tonne
After oscillating in negative territory for most of the day, the most-traded HRC contract on the Shanghai Futures Exchange surged in the last hour of trading before closing on Wednesday. This was likely sparked by a strong rally in rebar, coking coal, coke and iron ore.

HRC futures lagged behind their rebar counterparts because the impact on rebar production from escalated production curbs in...

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