China's domestic hot rolled coil prices rebounded on Monday (September 27th), and futures rebounded on news that tight electricity supplies in China, as well as local governments' rush to meet energy consumption targets, are affecting steel production rates.
In Shanghai, up 20-30 yuan per tonne to 5,700-5,750 yuan ($882-890)
The top-traded HRC contract on the Shanghai Futures Exchange rebounded from a one-month low at 5,421 yuan a tonne on Monday.
More than 10 Chinese provinces have cut or limited electricity supplies to energy-intensive industries, including steel, to alleviate power outages or as part of efforts to meet annual energy reduction targets.
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