13
Jan
09:35
Chinese HRC gains, exports enjoy currency appreciation
Despite an obvious decline in transactions, macro expectations still boosted Chinese hot rolled coil prices in every market last week, Kallanish notes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 4,210-4,230/tonne ($627-630/t), up CNY 40/t week-on-week. On the Shanghai Futures Exchange, meanwhile, the most-traded May 2023 contract for HRC gained CNY 20/t from Thursday and CNY 36/t on-week to CNY 4,20…
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Anonymous
Very good overview of the weekly steel market.
Anonymous