Spot prices for hot-rolled coil in China continued to fall on Monday November 1, with market sentiment subdued by continued declines in coal futures prices and weak economic data.
Domestic
Eastern China (Shanghai): 5,230-5,300 yuan ($817-828) per tonne, down by 40-100 yuan per tonne
Spot HRC prices in the domestic market slipped to their lowest since May 26 on Monday, while the most-traded HRC contract on the Shanghai Futures Exchange fell for a second trading day to close at 4,826 yuan per tonne, its lowest closing price since March 10.
The ferrous complex also weakened across the board...