CHINA HRC: Some participants betting export prices to drop as domestic market retreats

December 28, 2018 / www.metalbulletin.com / Article Link

Some participants have started to bet China's export hot-rolled coil prices will drop following declines in the domestic market amid sparse trading on Thursday December 27.

DomesticEastern China (Shanghai): 3,700-3,730 yuan ($537-541) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,640-3,660 yuan per tonne, widening downward 10 yuan per tonneAlthough prices in Shanghai hit 3,720-3,730 yuan per tonne in the morning, sellers there were forced to later lower them to 3,700 yuan per tonne to win orders amid sparse trading, a Zhejiang-based trader told Fastmarkets...

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