China's domestic hot-rolled coil prices rose on Thursday May 16, but pessimism continued to cast a pall over the market with trading activity remaining persistently thin.
DomesticEastern China (Shanghai): 4,000-4,010 yuan ($582-583) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,890-3,900 yuan per tonne, up 20 yuan per tonneSpot prices rose after mills raised their offers in response to gains in the futures market a day earlier.But trading activity remained thin, with buyers only buying on an as-needed basis, a Hangzhou-based trader said.A source...