China's domestic hot-rolled coil market edged up further on Thursday March 21 even though trading activity has started to decline, while export prices are expecting to weaken on inactivity.
DomesticEastern China (Shanghai): 3,870-3,890 yuan ($577-580) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,830-3,850 yuan per tonne, up 20 yuan per tonneDemand for HRC sold at the existing 16% value-added tax remained largely robust during the day, which led sellers to raise their prices further.But as a whole, trading activity was not as high as that seen in the first two days of this week, which suggested that overall demand was not so strong, a trader in Shanghai said.China's impending VAT cut - from...