Export prices for Chinese hot-rolled coil strengthened further on Wednesday November 6 amid rising domestic prices and higher bids emerging among overseas buyers.
DomesticEastern China (Shanghai): 3,540-3,550 yuan ($505-506) per tonne, up 20-30 yuan per tonneNorthern China (Tangshan): 3,540 yuan per tonne, up 20 yuan per tonneSellers in eastern China raised their prices after mills in the northern region increased their offers.The market remained active, with buyers being willing to pay higher prices. A Tianjin-based trader believes prices would stay strong for a while longer before demand weakens in the winter.He attributed the recent price...