Despite the continued decline in production, Chinese domestic prices fell

Chinese domestic hot rolled coil prices extended losses on Friday (August 13th) as market participants weighed demand concerns against production contraction.

East China (Shanghai): 5,750-5,780 yuan ($887-892) per tonne, down 30-40 yuan per ton. North China (Tangshan) was 5,700-5,750 yuan ($880-887) per tonne in the weekly assessment, while upward expansion was limited to 40 yuan per ton.

The China Iron and Steel Association (Cisa) said on Friday morning that the daily crude steel production at its member factories averaged 2.04 million tons in the first 10 days of August. This is down 2.97% and 5.09% from the level of July 21-31.