China's domestic hot-rolled coil prices rose on Tuesday July 7 amid moderate trading activity, while the export market remained quiet despite higher bids emerging in Pakistan, sources told Fastmarkets.
Domestic
Eastern China (Shanghai): 3,780-3,790 yuan ($538-539) per tonne, up 30-40 yuan per tonne
Sellers in Shanghai raised their offers amid rising futures. Sentiment had picked up in response to local authorities in Tangshan, China's steelmaking hub in the northern region, carrying out inspections of mills to ensure they kept to prescribed restrictions to curb air pollution, sources said.
But trading activity in the spot market was described as merely moderate, with buyers putting up resistance once prices...