China's hot-rolled coil prices weakened on Monday March 11, leaving traders with the expectation that mills would lower their export offers this week following last week's sparse trading activity.
DomesticEastern China (Shanghai): 3,790-3,810 yuan ($564-567) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,740-3,760 yuan per tonne, down 20-30 yuan per tonneSpot prices for HRC dropped following the decline in the futures market. A Shanghai-based trader said some of the traders who trade in both futures and physical products to hedge their risks took a step back from both markets during the day after news emerged over the weekend over the possibility of a property tax.A senior member of China's legislature said...