Eastern China's hot-rolled coil prices continued to fall on Friday March 27 on thin trading. Exporters too reported thin trading amid the availability of cheaper cargoes from other countries such as India.
Domestic
Eastern China (Shanghai): 3,330-3,350 yuan ($470-473) per tonne, down 20 yuan per tonne
Northern China (Tangshan): 3,280 yuan per tonne, unchanged
A Shanghai-based trader said sellers in the eastern region had started the day with offers of around 3,330 yuan per tonne before raising prices in the afternoon amid rising futures.
But there was little buying activity at the higher prices, he said.
In contrast, the northern region was reported to have experienced moderate trading activity due to stable demand, a trader there said.
This is because HRC sold in the northern region is mainly for domestic consumption while those in the eastern region is typically re-rolled...