Fears over a possible price slump for Chinese hot-rolled coil have led some traders to issue export offers that are significantly lower than those of mills.
Domestic
Eastern China (Shanghai): 3,600 yuan ($514) per tonne, unchanged
Northern China (Tangshan): 3,270-3,300 yuan per tonne, widening downward by 30 yuan per tonne
Sellers in Shanghai kept their offers stable on Wednesday February 5, with trading remaining sparse. Most downstream steel consumers are only expected to resume work next week.
The outbreak of the Wuhan coronavirus had led the central Chinese government to extend the January 24-30 public holiday for the Chinese New Year until last Sunday as a containment measure. But local authorities in several cities - including Shanghai, Beijing and Tianjin - and provinces extended this further until February 9.
The...