China's hot-rolled coil export prices fell significantly on Tuesday May 25, following the recent sharp decline in domestic prices and the resulting uptick in sales.
Domestic
Eastern China (Shanghai): 5,430-5,440 yuan ($848-850) per tonne,down by 10 yuan per tonne
Sellers cut domestic HRC prices slightly on Tuesday to encourage higher sales volumes following futures losses, sources said.
Stockists plan to cut inventories in case of further price drops and need to increase cashflows to cover the costs of HRC booked earlier in May, they added.
End users, meanwhile, were active...