China's hot-rolled coil market remained quiet on Thursday January 23 with most participants already on vacation for the Chinese New Year, though many of them are concerned about prices falling due to the outbreak of a mysterious respiratory virus in the country.
Domestic
Eastern China (Shanghai): 3,860-3,880 yuan ($559-562) per tonne, unchanged
Northern China (Tangshan): 3,590 yuan per tonne, unchanged
Most traders and mills sales representatives have stopped work since China's week-long break begins on Friday.
Although the public holiday is officially a week long, most industries are likely to extend their downtime to allow their employees additional time to return from their home towns.
Segments of the market are concerned that demand...