China's hot-rolled coil sellers lowered their prices on Friday August 2 following a decline in the futures market, with sentiment deteriorating after United States President Donald Trump threatened to impose a new tariff on Chinese goods.
DomesticEastern China (Shanghai): 3,760-3,770 yuan ($545-546) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,780 yuan per tonne, down 30 yuan per tonneSellers in the spot market cut their offers after mills lowered their ex-works prices by around 40 yuan per tonne, amid tumbling futures in the morning.Trading activity was thin during the day, though a few sources said the number of deals concluded at the lower end of the Fastmarkets price assessment range was "not bad."A source at a mill in northern China said the steelmaker...