CHINA HRC: Domestic, export prices slide amid bearish sentiment

摘要

China’s domestic and export prices for hot-rolled coil both declined on Friday October 19 amid market participants’ pessimistic outlook.Eastern China (Shanghai): 4,180-4,200 yuan ($602-605) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 4,100-4,110 yuan per tonne, down 10 yuan per tonneLocal authorities in north China’s steel hub of Tangshan late on Thursday released a list instructing mills with blast furnaces to lower their production rates during the winter heating season.HRC output is expected to be reduced by 540,000 tonnes per month during the season - from mid-November until the end of March - in comparison with periods of no restrictions, according to a local industry information provider.