CHINA HRC: Mills cut offers on mounting inventories

China's hot-rolled coil producers lowered their prices on Monday February 10 amid rising inventories resulting from a delayed resumption of business in downstream sectors and prolonged logistical hurdles.

Domestic
Eastern China (Shanghai): 3,500-3,520 yuan ($500-503) per tonne, down 30-40 yuan per tonne
Northern China (Tangshan): 3,200-3,220 yuan per tonne, down 50 yuan per tonne
A Shanghai-based trader said that he only managed to sell 100-200 tonnes of HRC during the day, with most downstream consumers still absent from the market.

This is despite Monday being the first day of work for many cities, including Shanghai and Beijing, where local authorities had extended the public holiday for...

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