Export prices for Chinese hot-rolled coil edged up further on Wednesday February 20, with exporters insisting on high offers amid expectations that the domestic market - though it weakened during the day - would pick up due to rising costs upstream.
DomesticEastern China (Shanghai): 3,720-3,750 yuan ($550-554) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,670-3,700 yuan per tonne, down 20-40 yuan per tonneHRC was traded as low as 3,720-3,730 yuan per tonne in Shanghai in the morning amid declining futures, but in the afternoon, sellers managed to push prices up to 3,730-3,750 yuan per tonne on robust trading activity.HRC futures also recovered in the afternoon to end the day higher than the preceding day's closing price, which sources attributed...