Trading activity in eastern China's hot-rolled coil market rose to moderate levels on Thursday July 11 after sellers cut prices.
DomesticEastern China (Shanghai): 3,860-3,880 yuan ($561-564) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, unchangedTrading in Shanghai was robust in the morning when traders set prices at 3,860-3,870 yuan per tonne.But once prices rose to around 3,880 yuan per tonne in the afternoon, fewer buyers placed orders, a Hangzhou-based trader said.Thursday's transaction prices are closer to the ex-works offers of around 3,850 yuan per tonne of mills in Tangshan - from which traders secure their materials to sell in...