China's domestic hot-rolled coil prices tumbled on Tuesday, the first trading day after the three-day Dragon Boat Festival, following US president Trump's tariff threat on $200 billion of Chinese goods.
DomesticEastern China (Shanghai): 4,270-4,300 yuan ($663-668) per tonne, down 20-40 yuan per tonneNorthern China (Tianjin): 4,200-4,230 yuan per tonne, down 20-40 yuan per tonneHRC prices dropped today while buyers took a wait-and-see position after US president Trump threatened new tariffs on $200 billion worth of Chinese imports, which could drag commodity goods' prices lower while exports shrink.Alongside price drops, trading today was dim, traders and analysts said....