China's hot-rolled coil prices tumbled on Monday April 12 amid a government call for stable commodity prices, but exporters raised their offers after a rise in trading activity last week.
Domestic
Eastern China (Shanghai): 5,350-5,390 yuan ($817-823) per tonne, down 100-110 yuan per tonne
Sellers in the spot market had to lower their offers after sentiment was dampened by slumping futures.
Several domestic traders said they were expecting Chinese HRC prices to weaken after officials called for a stabilization of commodity prices to ensure downstream companies profit.
Liu He, a vice premier of China's State Council, said late last week that the Chinese government would enhance efforts to ensure price stability, especially...