28
Oct
11:21
Chinese HRC falls faster as confidence collapses
Domestic demand remained sluggish and market confidence eventually collapsed last week. Chinese hot rolled coil prices thus fell rapidly in both domestic and export markets, Kallanish observes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 3,710-3,730/tonne ($513-516/t), down CNY 110/t week-on-week. On the Shanghai Futures Exchange, meanwhile, the most-traded, January 2023 contract for HRC lost CNY 84/t from Thu…
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Anonymous
Very good overview of the weekly steel market.
Anonymous