China's hot-rolled coil prices regained some strength on Monday July 22 after local authorities in Tangshan, the steelmaking hub in northern China, reiterated production cuts for steelmakers under their jurisdiction.
DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, up 20 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 10 yuan per tonneSpot prices rose after mills raised their ex-works prices by around 20 yuan per tonne over the weekend, with production curbs in Tangshan entering a final 10-day stretch to cut emissions.An official document released last Saturday instructed local steel mills to cut iron ore sintering activity by 50-70% over July...