China's domestic hot-rolled coil prices tumbled on Wednesday April 1 amid thin trading, which forced mills to lower their export offers to avoid bigger losses.
Domestic
Eastern China (Shanghai): 3,220-3,240 yuan ($454-457) per tonne, down 50-60 yuan per tonne
Northern China (Tangshan): 3,200-3,210 yuan per tonne, down 40-50 yuan per tonne
A Shanghai-based trader said trading activity during the day was thinner than on Tuesday, with market sentiment dampened by a continual decline of rebar futures.
Most market participants have a bearish outlook, with the global economy slowing down as a result of the Covid-19...