CHINA HRC: Export prices up amid higher bids

By Gladdy Chu / February 22, 2018 / www.metalbulletin.com / Article Link

China's domestic prices for hot-rolled coil were the same as those before the country's weeklong break on Thursday February 22 with major end-users yet to return, but higher bids from overseas buyers provided some support to the export segment.

DomesticEastern China (Shanghai): 4,110-4,130 yuan ($648-651) per tonne, unchangedNorthern China (Tianjin): 4,000-4,030 yuan per tonne, unchangedInventory levels increased during the Chinese New Year break at what was considered a moderate rate, which encouraged bullish traders to raise their offers despite downstream demand yet to show any signs of picking up, market participants said.Some sellers raised their offers by 10 yuan per tonne but no...

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