China's domestic hot-rolled coil prices fell on Thursday March 26 amid weak demand, while export trading was also thin with sellers exercising caution after many overseas buyers canceled their orders.
Domestic
Eastern China (Shanghai): 3,350-3,370 yuan ($472-475) per tonne, down 40 yuan per tonne
Northern China (Tangshan): 3,280 yuan per tonne, narrowed downward by 20 yuan per tonne
Trading activity was thin across the country during the day, which a Shanghai-based trader attributed to sentiment weakened by falling futures.
He said downstream demand had been weakening recently, partly due to many manufacturers not being able to run at full capacity amid a global economic slowdown.
Japanese financial services company Nomura said that although China had reported a recovery in production rates recently, there...