China's hot-rolled coil exporters kept their offers high on Wednesday August 12 despite a weakening of domestic prices.
Domestic
Eastern China (Shanghai): 4,040-4,050 yuan ($581-583) per tonne, down 10 yuan per tonne
Sellers in Shanghai lowered their offers slightly due to HRC futures having a weak start to the day. But trading activity picked up after HRC futures trended upward over the rest of the day.
A Shanghai-based trader said demand in the city remained largely stable, which was keeping prices supported.
But the arrival of cargoes from northern China is increasing inventory levels in...