China's domestic hot-rolled coil prices softened further on Monday June 25 amid persistently weak demand, traders told Metal Bulletin.
DomesticEastern China (Shanghai): 4,260-4,270 yuan ($655-656) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 4,150-4,170 yuan per tonne, down 50 yuan per tonneMonday's price decline was due to weakening demand as a result of downstream buyers' thin profit margins, according to a trader in Shanghai. Trading activity retreated slightly in both the eastern and northern regions, with "downstream buyers only placing orders out of necessity" due to this, he said.Worries over a potential economic slowdown...