China's domestic hot-rolled coil prices picked up some strength on Monday November 4 on robust trading activity after a stagnant week, though exporters appeared more willing to make concessions amid a pessimistic outlook for demand.
DomesticEastern China (Shanghai): 3,510-3,520 yuan ($499-500) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,510 yuan per tonne, up 10 yuan per tonneA Shanghai-based trader said demand was stable, which bolstered spot prices.Logistics across China has slowed down after a highway bridge collapse in Wuxi, Jiangsu province was attributed to a truck transporting as many as six HRC.While heavy trucks have been known to transport several coil - each typically weighing 20-30 tonnes - at a time to cut costs,...