China's hot-rolled coil prices weakened on Wednesday May 8 amid persistently thin trading.
DomesticEastern China (Shanghai): 4,060-4,070 yuan ($599-601) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 3,920-3,950 yuan per tonne, widening downward by 20 yuan per tonneMarket participants said mills lowered their offers during the day in response to recent days' sluggish buying.But this failed to stimulate the market, with buyers holding out for prices to fall even more since mills were hungry for orders, a trader...