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17 Mar

Chinese HRC slides as financial risks hit confidence

Affected by the impact of the global banking crisis on overall confidence and risk aversion, Chinese hot rolled coil prices turned to fall from Thursday last week. This reversed earlier gains to end level over the whole week, Kallanish notes. In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 4,380-4,400/tonne ($637-640/t), down CNY 20/t from a week earlier. On the Shanghai Futures Exchange, meanwhile, the most-traded May…
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