21
Oct
10:45
Chinese HRC faces headwinds amid market pessimism
As the Chinese Communist Party National Congress held back on stimulus, and market sentiment has deteriorated, Chinese hot rolled coil prices dropped down in both domestic and export markets last week, Kallanish notes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 3,820-3,840/tonne ($527-530/t), down CNY 110/t week-on-week. On the Shanghai Futures Exchange, meanwhile, the most-traded, January 2023 contract for HRC ga…
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Anonymous
Very good overview of the weekly steel market.
Anonymous