China's domestic hot-rolled coil prices continued to rise on Friday December 14, capping a week of gains that appears to have led to a drop in trading activity in the export market.
DomesticEastern China (Shanghai): 3,820-3,830 yuan ($555-557) per tonne, up 30-50 yuan per tonneNorthern China (Tianjin): 3,620-3,630 yuan per tonne, up 10-20 yuan per tonnePrices rose further due to buyers constantly restocking this week, several sources told Fastmarkets MB.While the price decline two weeks ago had led to many of them putting off their restocking plans in the hope of securing cheaper materials once the market bottomed out, they have now picked up their pace because their HRC inventory levels had fallen too low to sustain their current...