26
Aug
10:37
Chinese domestic HRC outperforms exports
Supported by receding heatwaves and another cut in Chinese lending rates, financial markets got excited and pushed up domestic spot prices of Chinese hot rolled coil. But demand has not been inspiring, Kallanish notes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 3,970-4,000/tonne ($578-583/t), up CNY 120/t week-on-week. On the Shanghai Futures Exchange, meanwhile, the most-traded October 2022 contract for HRC gained&nbs…
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Anonymous
Very good overview of the weekly steel market.
Anonymous