WEEKLY: China HRC prices firm on balanced fundamentals
Dec 10, 2019 08:40
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Chinese domestic prices of hot-rolled coil continued trending up during the week of December 2-6, mainly thanks to the comparatively firm fundamentals prevailing currently, namely stable demand and continuing low levels of stocks, Mysteel Global has learned.
Mysteel’s national average price for Q235 3mm HRC increased further by Yuan 12/tonne ($1.7/t) on week to reach Yuan 3,880/t including the 13% VAT as of December 6. This compares with the deep declines seen in rebar prices, with China’s national HRB400 20mm dia rebar benchmark price down Yuan 127/t