Hot rolled coil prices in the Chinese domestic market rose on Friday, August 20, after two days of sharp losses caused by rising demand concerns.
China Local Prices;
East China (Shanghai): 5,620-5,670 yuan ($865-872) per ton, 20-50 yuan per ton
North China (Tangshan): weekly rating: 5,600-5,640 yuan per tonne ($862-868), decrease 100-110 yuan per tonne
A Shanghai-based industry analyst said the top-traded HRC contract on the Shanghai Futures Exchange dropped to a seven-week low on Friday, bolstered by possible demand recovery from the seasonal recession and continued production restrictions.
Trading liquidity in the spot HRC markets was active on Friday after downstream users increased their prices.
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