China's export prices for hot-rolled coil weakened on Thursday October 25 even though the domestic market was largely stable, with participants expecting more downside for the product amid rising supply and weak demand.
DomesticEastern China (Shanghai): 4,170-4,190 yuan ($601-604) per tonne, unchangedNorthern China (Tianjin): 4,080-4,100 yuan per tonne, unchangedMost transactions in Shanghai were concluded at 4,180-4,190 yuan per tonne, while a few took place at 4,170 yuan per tonne, a Hangzhou-based trader said.Traders described trading activity in the domestic market as moderate during the day.Market participants are still expecting prices to decline in the days to come due to weak demand and increasing...