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15 Sep

China’s HRC rebounds but deals remain difficult

Boosted by futures, Chinese hot rolled coil prices rebounded last week despite transactions remaining sluggish, Kallanish notes. In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 3,900-3,920/tonne ($537-539/t), up CNY 40/t from the prior week. On the Shanghai Futures Exchange, the January 2024 contract for HRC gained CNY 24/t from Thursday and CNY 81/t from a week earlier to CNY 3,892/t. Macro data such as August f…
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