09
Mar
13:07
Chinese HRC plummets but Baosteel signals an upturn
Chinese domestic hot rolled coil prices plummeted last week, dragging down export offers with them. Baosteel has increased its April list prices slightly however, and traders are still optimistic about HRC inventory levels, Kallanish notes.
In Shanghai on Friday afternoon 5.5*1,500mm Q235 HRC was trading at CNY 3,970-4,000/tonne ($627-632/t), down CNY 195/t week-on-week. On the Shanghai Futures Exchange the May HRC contract closed down CNY 80/t from Thursday and…
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Anonymous
Very good overview of the weekly steel market.
Anonymous