Chinese HRC price rise stimulates buying activity

Trading in China's spot hot-rolled coil market picked up on Wednesday November 3, with prices rebounding after two consecutive days of sharp losses.

Domestic
Eastern China (Shanghai): 5,050-5,100 yuan ($789-797) per tonne, up by 50 yuan per tonne
Spot HRC prices in eastern China recovered from an eight-month low during the day while the most-traded HRC contract on the Shanghai Futures Exchange also bounced back after three days of losses.

The recovery came amid across-the-board gains for ferrous futures. The most-traded rebar contract on the SHFE and benchmark iron ore contract on the...

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