China's domestic hot-rolled coil prices weakened on Thursday August 20, but a mill was reported to have secured an order from South America at a price above prevailing levels.
Domestic
Eastern China (Shanghai): 4,060-4,070 yuan ($587-589) per tonne, down 10-20 yuan per tonne
Prices weakened on Thursday after downstream buyers held back from placing orders in response to HRC futures tumbling during the afternoon trading session. HRC futures had shot up in the first hour of trading in the morning,
A Shanghai-based trader said that some buyers were expecting prices to drop amid rising inventories in the eastern region.
Traders in the eastern region had placed orders for HRC...