China's domestic hot-rolled coil prices rebounded on Friday April 3 after trading activity picked up a day earlier, but exports remained under pressure, particularly with imports into the country rising due to their competitive rates.
Domestic
Eastern China (Shanghai): 3,190-3,210 yuan ($450-452) per tonne, up 20-40 yuan per tonne
Northern China (Tangshan): 3,220 yuan per tonne, up 20-60 yuan per tonne
Sellers raised their offers during the day on seeing the previous day's buying activity. But the higher prices led to trading retreating again, a Shanghai-based trader said.
The trader said that although sellers in the city aimed to sell at 3,210 yuan per tonne, but most transactions were concluded at 3,190 yuan per tonne.
HRC prices in Shanghai...