China's domestic prices for hot-rolled coil continued falling on Wednesday March 6 following downward moves in the futures market.
DomesticEastern China (Shanghai): 3,840-3,860 yuan ($573-576) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 3,770-3,790 yuan per tonne, down 10 yuan per tonne Customers cut procurement rates after seeing the weak futures market.The most-traded May HRC contract was lower than Tuesday's settlement price of 3,770 yuan per tonne in all trading hours on Wednesday, denting the spot market's confidence.Traders have...