CHINA HRC: Domestic prices dip after govt drops GDP target

Eastern China's hot-rolled coil prices narrowed downward on Friday May 22 after the Chinese government decided for the first time to drop its gross domestic product growth target for this year.

Domestic
Eastern China (Shanghai): 3,560-3,570 yuan ($500-501) per tonne, narrowed downward by 10 yuan per tonne
Northern China (Tangshan): 3,510-3,520 yuan per tonne, unchanged

Premier Li Keqiang confirmed at the National People's Congress on Friday in Beijing that the country will not set an economic growth target for this year....

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