China's hot-rolled coil prices tumbled on Friday March 23 along with the paper market amid mounting trade tensions between the country and the United States.
DomesticEastern China (Shanghai): 3,760-3,800 yuan ($594-600) per tonne, down 120 yuan per tonneNorthern China (Tianjin): 3,710-3,740 yuan per tonne, down 160 yuan per tonneHRC futures slumped during Thursday night's trading session with risk aversion growing after the US President Donald Trump unveiled tariffs on up to $60 billion worth of Chinese imports. They continued to fall on Friday, nearly hitting the daily limit, after China announced plans to impose...