China's domestic hot-rolled coil prices edged higher on Friday June 29 despite thin trading, while export prices fell as overseas buyers bet HRC prices in China will soften in the coming days, sources told Metal Bulletin.
DomesticEastern China (Shanghai): 4,260-4,270 yuan ($643-645) per tonne, narrowing up 10 yuan per tonneNorthern China (Tianjin): 4,170-4,180 yuan per tonne, up 10 yuan per tonneDomestic prices continued to rebound following the recovery since Wednesday "partly because sentiment remained high following rebounds in the futures market, but trading activity was dim as most buyers expect to place orders after prices drop in the days to come", a trader in northern China said.Most of the deals today...