China's hot-rolled coil prices fell further on Monday August 5 on weak demand caused by pessimism sparked by the country's trade tensions with the United States.
DomesticEastern China (Shanghai): 3,720-3,730 yuan ($536-537) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,750 yuan per tonne, down 30 yuan per tonneDespite mills keeping their official ex-works prices steady, thin trading amid falling futures put pressure on the spot market.Sentiment is bearish following the recent deterioration of trade relations between the US and China, a source in Shanghai said. He also drew attention to high inventory...