China: HRC, CRC prices fall sharply by up to RMB 90/t ($12/t)

China’s domestic prices of HRCs decreased sharply by RMB 90/t ($12/t) and CRCs by RMB 80/t ($11/t) d-o-d today following a sharp fall in HRC futures.

• HRC (4.5-12mm, Q235 B): RMB 3,720/t ($513/t)
• CRC (1-1.2mm, Q195-215A): RMB 4,205/t ($580/t)
• Prices are exw-Tianjin, including 13% VAT.

SHFE HRC futures for Jan’23 delivery closed today at RMB 3,554/t ($490/t), down by RMB 86/t ($12/t) d-o-d.