China's hot-rolled coil exporters kept offering high on Tuesday August 18 based on stable domestic market, sources told Fastmarkets.
Domestic
Eastern China (Shanghai): 4,080-4,090 yuan ($588-590) per tonne, up 10-20 yuan per tonne
One Shanghai-based trader said the futures price gains continued to improve market sentiment in the spot market, however, the demand mainly came from speculators who were buying spot goods to hedge against futures risks, rather than end users, the trader said.
Hot-rolled coil inventory in Shanghai is...