China's hot-rolled coil producers conceded to lower export prices on Tuesday July 16 despite some gains in the domestic market, with overseas buyers unwilling to pay too much for Chinese products.
DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, up 30 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, unchangedPrices picked up in Shanghai amid moderate trading activity, with most participants expecting HRC to become more expensive in the near future amid tightening supply due to production curbs in the northern region.A Shanghai-based trader said that a mill in northern China will see its output fall to 70% of current levels over the next few weeks due to the...