CHINA HRC: Prices weaken on January futures delivery

China's hot-rolled coil prices continued to fall on Wednesday January 20 as a result of a surge in supply in the eastern region as a result of physical delivery being made for January futures contracts.

Domestic
Eastern China (Shanghai): 4,450-4,480 yuan ($687-691) per tonne, down 30-40 yuan per tonne
Sellers in the spot market had to lower their offers despite a rebound in the futures market due to the supply surge of mainstream grades of HRC in eastern China, several sources said.

A Shanghai-based trader said that a major company in the eastern region had been delivering 200,000 tonnes of HRC since last Friday following the expiry...

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