China's hot-rolled coil prices slid further on Wednesday May 26 in both domestic and export markets amid lower market activity.
Domestic
Eastern China (Shanghai): 5,170-5,220 yuan ($809-816) per tonne, down by 220-260 yuan per tonne
HRC stockists were active in selling material from their warehouses to get capital flow for month-end payment and to avoid losing more money on further possible price drops.
The selling need put downward pressure on HRC prices and led to expectations among buyers of lower prices.
The loss in futures has added...