China's hot-rolled coil prices were largely stable on Wednesday January 23 with both demand and supply declining ahead of the Chinese New Year.
DomesticEastern China (Shanghai): 3,700-3,720 yuan ($543-546) per tonne, unchangedNorthern China (Tianjin): 3,650-3,670 yuan per tonne, down 10 yuan per tonneA Hangzhou-based trader told Fastmarkets MB that demand had been dropping with more and more end users having completed their restocking for operations during the February 4-10 holiday.Supply has also tightened and mills - which are currently enjoying profit margins of above 250 yuan per tonne -...