The joust between China’s two price titans rumbles on
Nov 27, 2020 16:50
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The trajectories of Chinese prices of hot-rolled coil (HRC) and rebar have become entangled, once again. Hot coil prices had edged higher than rebars starting from this year’s second half but from this month, rebars have gained the upper hand again. As of November 26, just Yuan 2/tonne ($0.3/t) separated them, and how they will move in coming weeks is still being debated, Mysteel Global noted.
During the past few years, domestic rebar prices were generally higher than HRC prices, given the crucial role rebars play in Chinese construction, a pillar industry propelling the country’s economy. However, from this year’s July-September quarter, HRC prices gained strength, given the robust demand from manufacturing industries at home and