China's domestic hot-rolled coil prices were largely steady on Tuesday February 18 amid thin trading, though some mills lowered their export offers in an attempt to reduce their inventories.
Domestic
Eastern China (Shanghai): 3,470-3,490 yuan ($497-500) per tonne, up 10 yuan per tonne
Northern China (Tangshan): 3,230 yuan per tonne, unchanged
Sellers in Shanghai tried to shore up the market by issuing offers of 3,490-3,500 yuan per tonne in the morning, which generated "almost no deals," a trader in the city said.
But after they lowered these offers to 3,470-3,480 yuan per tonne, they were able to...