China's hot-rolled coil prices dropped on Thursday February 27 after trading thinned further, with high inventories dampening market sentiment.
Domestic
Eastern China (Shanghai): 3,520-3,530 yuan ($500-501) per tonne, down 40 yuan per tonne
Northern China (Tangshan): 3,280-3,300 yuan per tonne, down 20 yuan per tonne
Several Shanghai-based traders said trading activity on Thursday was even lower than that on Wednesday despite sellers lowering their prices.
Participants said sentiment was dampened by high inventories, though they continued to put the blame on tight cash...