China's domestic hot-rolled coil prices continued to fall on Friday February 14 on low demand, though participants in the export market are holding out for a rebound once the novel coronavirus (2019-nCoV) outbreak comes under control.
Domestic
Eastern China (Shanghai): 3,460-3,480 yuan ($496-499) per tonne, down 30-40 yuan per tonne
Northern China (Tangshan): 3,230 yuan per tonne, down 40 yuan per tonne
Sellers in Shanghai offered HRC at 3,490 yuan per tonne in the morning, which was already 10-20 yuan below offers from a day earlier. But they secured no deals.
Orders were later placed below that price, but trading remained sparse on low demand.
Sellers in the northern region had to cut prices by about 40 yuan per tonne...