WEEKLY: China’s HRC production down, prices rebound

The 2.1% on-week decline in Chinese production of hot-rolled coil (HRC) over July 2-8, coupled with growing optimism in hot coil futures, encouraged HRC prices in the physical market to rise last week, Mysteel Global has found, even though demand of late has been average.
Hot coil output among the 37 flat steelmakers monitored by Mysteel declined by 67,800 tonnes on week to 3.2 million tonnes over July 2-8. In parallel, rolling capacity utilization among those mills also declined 1.73 percentage points on week to average 82.08% over the same period. China’s national price of Q235


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