China's hot-rolled coil prices remained strong on Friday March 26, which encouraged suppliers in India to issue high export offers, particularly in the absence of any clarity on the former's export tax rebate.
Domestic
Eastern China (Shanghai): 5,100-5,150 yuan ($780-788) per tonne, widening from 5,110-5,130 yuan per tonne
Northern China (Tangshan) - weekly assessment: 5,050-5,100 yuan per tonne, up 130-150 yuan per tonne
Several Shanghai-based traders said trading activity during the day was higher than on Thursday, which motivated sellers to raise their prices in the afternoon.
A rallying futures market also lifted market sentiment, sources said.
A Tianjin-based trader said many investors remained optimistic about HRC prices due to...