25
Jun
13:10
Chinese HRC remains weak despite retrictions
Declining demand came as expected last week, causing Chinese hot rolled coil inventories to expand again. Production, meanwhile, was still at high levels, Kallanish notes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 5,430-5,460/tonne ($841-846/t), down CNY 150/t from the previous Friday. On the Shanghai Futures Exchange, October 2021 HRC futures closed CNY 128/t higher than Thursday and CNY 59/t lowe…
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Anonymous
Very good overview of the weekly steel market.
Anonymous