China's hot-rolled coil prices were stable on Tuesday September 22 amid a pick-up in trading activity, though market participants remained bearish amid weakening financial markets.
Domestic
Eastern China (Shanghai): 3,840-3,860 yuan ($566-569) per tonne, unchanged
Several Shanghai-based traders said that trading activity was higher during the day than on Monday.
This was due to rising HRC futures in the morning, which motivated some downstream buyers to restock, one of the traders said.
But HRC futures fell in the afternoon.
The traders...