China's domestic hot-rolled coil prices were stable on Friday April 16, though they remain close to their highest in 12 years.
Domestic
Eastern China (Shanghai): 5,480-5,510 yuan ($840-844) per tonne, unchanged
Northern China (Tangshan) - weekly assessment: 5,430-5,470 yuan per tonne, down 60-70 yuan per tonne
Several sources told Fastmarkets that spot sellers were offering HRC at 5,480-5,490 yuan per tonne in the morning, but by afternoon, transaction prices of 5,500-5,510 yuan per tonne were realized after the futures market registered gains.
Overall trading activity was reported to be moderate on Friday.
A Tianjin-based trader believes Chinese HRC prices are likely to stay elevated for some time because the cost of raw materials remains high. Coke and coking coal futures in particular have...