China's domestic and export prices for hot-rolled coil surged on Monday April 8 on improved sentiment, which took many overseas buyers by surprise.
DomesticEastern China (Shanghai): 3,950-3,970 yuan ($588-591) per tonne, up 60-70 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, up 50-60 yuan per tonneThe day's price increases were largely attributed to the strength of the iron ore and coke markets upstream, while recent economic developments have also improved sentiment.Qiu Yuecheng, the director of metal research at Everbright Futures, said investors were invigorated by the progress of trade talks between China and the United States over weekend after Chinese Vice Premier Liu He said that...