China: Domestic HRC, CRC prices rise by up to RMB 70/t ($10/t)

China’s HRC and CRC prices rose d-o-d today following the sharp rise in HRC futures and decline in social inventory. According to SteelMint data, SHFE HRC futures for Oct’22 delivery settled today at RMB 3,800/t ($564/t), up by RMB 98/t ($15/t) d-o-d. Current prices-

• HRC (4.5-12mm, Q235 B): RMB 3,770/t ($559/t), up by RMB 30/t ($4/t)
• CRC (1-1.2mm, Q195-215A): RMB 4,245/t ($630/t), up by RMB 70/t ($10/t)
• Prices are exw-Tianjin basis, inclusive of 13% VAT.