WEEKLY: China's HRC prices gain on improving sentiment

Prices of hot-rolled coil (HRC) in China's domestic market increased over May 29-June 2, in line with the rise in HRC futures prices on the Shanghai Futures Exchange (SHFE). The improving sentiment in the market gave a boost to the prices, a market insider said.

As of June 2, China's national price of Q235 4.75mm HRC had grown to Yuan 3,808/tonne ($627.3/t) including the 13% VAT, up by Yuan 46/t from one week earlier. Many traders gained confidence and lifted their offering prices after noting the rise in HRC prices on the SHFE, a Shanghai-based