China's hot-rolled coil prices fell on Tuesday December 25 following plunges in the global financial markets with participants bearish on the macro-economic outlook, although exporters kept offer prices high due to a lack of urgency to sell.
DomesticEastern China (Shanghai): 3,740-3,760 yuan ($542-545) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,650-3,670 yuan per tonne, down 30-40 yuan per tonnePrices dropped nationwide, with participants turning pessimistic on the economy, a Zhejiang-based trader said.The Shanghai Composite Index lost 0.88% to 2,504.82 points following a global sell-off triggered by worries over the global economy and Donald Trump's response to the US market weakness.Such slumps led to price...