China's hot-rolled coil exporters lowered their offer prices on Tuesday May 14 amid a further weakening of the domestic market for the flat steel product.
DomesticEastern China (Shanghai): 3,990-4,000 yuan ($581-582) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,860-3,890 yuan per tonne, down 10-30 yuan per tonneDomestic prices experienced a fifth day of losses during the day.Mills lowered their offers further to stimulate sales but buyers remained reluctant to restock on seeing the falling market.Traders whom Fastmarkets MB spoke to merely described the day's trading activity as "not great".Pessimism grew amid intensifying trade tensions between the United States and China, with the...