Trading activity in China's domestic hot-rolled coil market picked up on Tuesday July 21, with sentiment improving amid the country's economic recovery.
Domestic
Eastern China (Shanghai): 3,900-3,910 yuan ($558-560) per tonne, up 20 yuan per tonne
Several Shanghai-based traders told Fastmarkets that trading activity in eastern China had risen during the day in comparison with Monday, with rising futures resulting in some bullishness in the market.
They attributed the gains in the futures market to increased liquidity in the financial markets as a result of the Chinese government's monetary easing policies, though they said that on a broader scale, China's continual economic recovery was a factor as well.
The Chinese Ministry of Commerce said on Tuesday that the...