CHINA HRC: Arrival of imports inflates spot market inventories

China's hot-rolled coil inventory levels rose in the past week due to the arrival of imports, but prices were largely stable on Thursday July 16 amid steady buying.

Domestic
Eastern China (Shanghai): 3,880-3,900 yuan ($555-558) per tonne, widening downward by 10 yuan per tonne
Sellers were mainly asking for 3,890-3,900 yuan per tonne on Thursday morning, but prices weakened slightly in the afternoon when buyers slowed down procurement.

This was in response to data published by a domestic steel consultancy showing an increase of 86,100 tonnes in HRC inventory levels in the past week, which took...

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