China's domestic and export prices for hot-rolled coil both declined on Friday October 19 amid market participants' pessimistic outlook.
DomesticEastern China (Shanghai): 4,180-4,200 yuan ($602-605) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 4,100-4,110 yuan per tonne, down 10 yuan per tonneLocal authorities in north China's steel hub of Tangshan late on Thursday released a list instructing mills with blast furnaces to lower their production rates during the winter heating season. HRC output is expected to be reduced by 540,000 tonnes per month during the season - from mid-November until the end of March - in comparison with periods of no restrictions, according to a local industry information provider.Industry...