China's domestic hot-rolled coil prices rose further on Thursday June 28 after rebounding a day earlier, returning to levels market participants considered as "normal" amid a balance between supply and demand.
DomesticEastern China (Shanghai): 4,250-4,270 yuan ($644-647) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 4,160-4,170 yuan per tonne, up 10-40 yuan per tonneThe recovery snapped a round of decreases since June 15, which is said to have been caused by dampened sentiment resulting from the United States threatening fresh tariffs on Chinese imports and concerns over an economic slowdown in China, a trader in Beijing said.The HRC market started to recover on Wednesday afternoon when...