CHINA HRC: Trading activity weakens on persistently high prices

Trading activity in China's hot-rolled coil market weakened on Wednesday July 15 amid reluctance among buyers to pay prevailing prices, which are deemed as high, sources told Fastmarkets.

Domestic
Eastern China (Shanghai): 3,890-3,900 yuan ($556-557) per tonne, unchanged
HRC prices in eastern China have risen to their highest level since January 10 after sellers raised their offers steadily since last week on a strong futures market.
Market participants expect prices to stay high over the next few days, "as long as futures remain largely stable."

A trader based in Anhui province believes Chinese investors are flush with cash and as such, will help keep HRC futures prices high for a while longer, similar to how it is with the...

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