China's domestic hot-rolled coil prices decreased on Thursday October 18 following a sharp drop in the futures market.
DomesticEastern China (Shanghai): 4,210-4,230 yuan ($608-611) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 4,110-4,120 yuan per tonne, down 10 yuan per tonneThe significant drop in the futures market dampened demand for HRC and pushed down spot prices for the product. A small segment of the market expects demand for HRC to gradually increase over the...