China's domestic hot-rolled coil prices edged closer to record highs last seen in July 2008 on Tuesday April 27 amid sustained measures to control emissions in the country's northern region.
Domestic
Eastern China (Shanghai): 5,760-5,800 yuan ($888-894) per tonne, up 20 yuan per tonne
Spot sellers in Shanghai offered cargoes at 5,780-5,800 yuan per tonne in the morning but lowered these to 5,760-5,780 yuan per tonne in the afternoon due to trading activity being weaker than on Monday, several sources told Fastmarkets.
But overall, prices have risen "very close to the record highs of 2008," a Shanghai-based trader said.
HRC prices in eastern China were at 5,830-5,850 yuan per tonne in early July 2008.
Market sources attributed the strong...