Hot-rolled coil prices across China's domestic market continued to move lower on Tuesday June 22, while futures prices extended their decline, sources said.
Domestic
Eastern China (Shanghai): 5,270-5,310 yuan ($815-821) per tonne, down by 90-120 yuan per tonne.
The most-traded HRC contract on the Shanghai Futures Exchange slipped in morning trade, approaching a four-week low of 5,070 yuan per tonne in overnight trading, then followed the ferrous complex higher in afternoon trade to close the day slightly lower from Monday's close.
Bargain-hunting spurred trading activity in the morning, before prices clawed back some losses in the afternoon, sources said.
One Shanghai-based trader attributed the poor...