China's hot-rolled coil markets dropped for a second consecutive day on Tuesday January 12 on inactive trading conditions.
Domestic
Eastern China (Shanghai): 4,550-4,570 yuan ($702-705) per tonne, down 60-80 yuan per tonne
A Shanghai-based trader said he received few orders from downstream buyers on Tuesday even though his offers were 60-80 yuan per tonne below those issued on Monday.
He said demand was low recently in downstream sectors, covering white goods, automotive and construction.
Some sources believe the...