China’s HRC, CRC prices surge up to RMB 100/t ($14/t) d-o-d

China’s HRC prices surged by RMB 100/t ($/t) d-o-d while CRC prices rose by RMB 60/t ($9/t) today with bulk orders heard being placed in Tianjin and Hebei. Current offers-

• HRC (4.5-12mm, Q235 B): RMB 3,940/t ($567/t)
• CRC (1-1.2mm, Q195-215A): RMB 4,330/t ($623/t)
• Prices are exw-Tianjin, including 13% VAT.

SHFE HRC futures for Jan’23 delivery settled today at RMB 3,970/t ($571/t), up RMB 52/t ($7/t) d-o-d.