CHINA HRC: Domestic prices narrow amid weak demand, output cuts

Domestic hot-rolled coil prices in China narrowed on Tuesday August 17 while the export market remained stagnated on persistent fears over an introduction of export duties for the flat steel product.

Domestic
Eastern China (Shanghai): 5,760-5,800 yuan ($889-895) per tonne, narrowing by 10 yuan per tonne
While weak demand put pressure on spot HRC prices, steelmaking costs and output cuts provided support for them, an industry analyst in northern China said.

Data released by the National Bureau of Statistics on Monday pointed to slowing industrial output, and a shrinking of investments in fixed assets and property development as well...

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