Chinese mills lowered their export offers for hot-rolled coil on Tuesday May 28 to generate interest after a recent lack of activity in the market, both at home and abroad.
DomesticEastern China (Shanghai): 3,990-4,000 yuan ($578-580) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, unchangedA Hangzhou-based trader said trading activity remained thin during the day despite the lower spot prices.He believes mills had already lowered their offers when selling their materials to traders due to some of them experiencing a lack of orders.Most participants are bearish about prices in the...