China's hot-rolled coil prices were largely steady on Monday March 25 amid sparse trading due to stagnant demand in both the domestic and export markets.
DomesticEastern China (Shanghai): 3,850-3,870 yuan ($573-576) per tonne, unchangedNorthern China (Tianjin): 3,800-3,820 yuan per tonne, widening upward 10 yuan per tonneThin trading kept domestic prices stable during the day.While products sold at the current 16% value-added tax were being traded as high as 3,870 yuan per tonne in Shanghai, transactions involving cargoes pegged to the new 13% VAT that comes into effect next month were sparse. Such...