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24 Mar

Chinese HRC dives deeper amid sluggish demand

Due to the continued impact of the banking crisis on financial market confidence and a drop in weekly apparent consumption, China's hot rolled coil prices dived deeper 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 4,260-4,280/tonne ($622-625/t), down CNY 120/t from a week earlier. On the Shanghai Futures Exchange, meanwhile, the most-traded May 2023 …
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