China's hot-rolled coil prices weakened again on Thursday June 6 on thin trading amid bearish sentiment and rising inventory levels.
DomesticEastern China (Shanghai): 3,840-3,850 yuan ($556-557) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,790-3,800 yuan per tonne, down 10 yuan per tonneTransaction prices fell nationwide despite mills keeping their offers steady, with buyers being reluctant to restock amid a bearish outlook for the market.The futures market slumped in the morning, which dampened sentiment in the spot market. Rising inventory levels also resulted in even more pessimism in the market, a Shanghai-based trader said.HRC inventory...