Chinese steelmakers appear to be divided on the approach to take with exports, with a major mill issuing a significantly lower offer than the rest of its peers on Thursday October 31, though that still failed to stimulate sales.
DomesticEastern China (Shanghai): 3,500-3,520 yuan ($496-499) per tonne, unchangedNorthern China (Tangshan): 3,500 yuan per tonne, unchangedMajor Chinese steelmakers produced 3.27 million tonnes of HRC in the past week, up 207,800 tonnes from a week earlier, according to a local industry information provider.HRC futures declined after these statistics were released, sparking bearish sentiment in the spot market. End-user demand was flat, however,...