China's domestic hot-rolled coil prices were largely stable on Wednesday April 29 on futures gains, while trading houses have been importing from India amid lower offers.
Domestic
Eastern China (Shanghai): 3,270-3,280 yuan ($462-463) per tonne, narrowing upward by 10 yuan per tonne
Northern China (Tangshan): 3,240 yuan per tonne, unchanged
Prices nationwide were largely stable on Wednesday, with sellers anticipating that sentiment in the market would be optimistic amid futures rebounds.
But several sources said trading was thinner than the previous day and buyers' bidding prices are expected to drop in the coming days.
A Tianjin-based trader said steel prices will fall in May, after downstream buyers restocked heavily in April amid construction expansions.
Some participants predict...