Shanghai hot-rolled coil futures fall on debut

SINGAPORE, March 21 (Reuters) - Hot-rolled coil futures opened nearly 2 percent lower on their first day of trading on the Shanghai Futures Exchange on Friday, reflecting worries over weak demand for steel in top consumer China.

The most-traded hot-rolled coil (HRC) contract for October delivery SHHCV4 opened 1.9 percent weaker at 3,252 yuan ($520) a tonne and touched a low of 3,230 yuan. It was down 0.7 percent at 3,292 yuan by 0105 GMT.

The HRC futures should be another hedging tool for Chinese steelmakers amid increasing price volatility, traders said. The exchange already has an actively traded rebar contract.

($1 = 6.2275 Chinese yuan)

(Reporting by Manolo Serapio Jr.; Editing by Paul Tait)

((manolo.serapio@thomsonreuters.com)(+65 6870 3884)(Reuters Messaging: manolo.serapio.thomsonreuters.com@reuters.net))

Keywords: SHANGHAI STEEL/FUTURES