China's hot-rolled coil prices started descending again on Wednesday March 21, especially in the eastern region, following a big drop in the futures market.
DomesticEastern China (Shanghai): 3,850-3,900 yuan ($608-616) per tonne, down by 30-50 yuan per tonneNorthern China (Tianjin): 3,870-3,900 yuan per tonne, widened downward by 10 yuan per tonneThe paper market slumped during the day, with the benchmark contract losing a lot of its value in the morning before experiencing fluctuations in the afternoon, which dragged down spot prices, sources said.The trading activity picked up, with more...