DCE went downhill on Tuesday, due to easing of supply from higher shipments.
DCE fell slightly by 0.96% on-day to RMB 617 a tonne on Monday, after experiencing some support in the morning session before a selloff at the afternoon.
DCE fell for third consecutive day by 5.37% day-on-day to RMB 660.50 a tonne, due to weaker Yuan against US dollar.
DCE continued to fall for the second consecutive trading day on Tuesday to below RMB 700 a tonne, as trade war transited into a ‘currency war’ between the US and China.
DCE finished under the RMB 700 a tonne on Monday, in view of the escalating trade tension between the US and China.
DCE fell slightly by 0.13% on-day to RMB 763 a tonne after a pullback from high rally seen earlier in the morning trading session.
DCE reached above RMB 900 a tonne mark on Tuesday, due to supply concerns and relaxed output cut for the month of August.
DCE had a late squeeze by the end of afternoon session to close on the positive after being in negative region for most of the time.
DCE ended the week stronger with market expectation of higher steel productions for China’s various infrastructure projects amid relaxed output restriction.
DCE faced upward pressure and dipped by 1.73% on Tuesday to close at RMB 880 a tonne by the end of afternoon session.