China's domestic and export prices for hot-rolled coil fell on Wednesday October 24, with expectations of a further decline making a few mills more eager to sell their products abroad.
DomesticEastern China (Shanghai): 4,170-4,190 yuan ($601-604) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 4,080-4,100 yuan per tonne, widening downward 10 yuan per tonneSellers in Shanghai tested buyers' willingness to pay by first offering HRC at 4,170 yuan per tonne in the morning. Upon seeing buyers return to the market in response to that, they raised prices to 4,180-4,190 yuan per tonne.This generated a bit more trading activity than a day earlier.But market participants still expect prices to fall in the days to come, with several...