China's domestic hot-rolled coil prices dropped on Tuesday April 21, with market sentiment hurt by a slump in financial markets triggered by an oil crash in the United States.
Domestic
Eastern China (Shanghai): 3,300-3,320 yuan ($466-469) per tonne, down 20-30 yuan per tonne
Northern China (Tangshan): 3,240 yuan per tonne, down 20 yuan per tonne
Sellers across China lowered their offers in response to falling futures, which was attributed to the May futures contract for West Texas Intermediate (WTI) crude oil plunging into negative territory on Monday.
A Beijing-based trader said sentiment was weak in both the spot...