Domestic hot rolled coil prices in China rose on Thursday (September 2nd) after two consecutive days of moderate losses, creating an improving market mood on the back of positive production and inventory data.
Shanghai: 5,670-5,690 yuan ($878-881) per tonne, up 20 yuan The most traded HRC contract on the Shanghai Futures Exchange hit an intraday high of 5,618 yuan in the last trade an hour before the closing bell on Thursday. jumped. The gains in HRC futures came after a major local information provider released weekly steel production and inventory data on Thursday afternoon.
Combined stocks of HRC, HRC and plate in China fell by 142,800 tons in the week to September 2, to 3.77 million tons, while production of the products fell 30,500 tons to the US.
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