China's hot-rolled coil exporters maintained high offers on Friday November 22 amid price gains in the country's eastern region.
Domestic
Eastern China (Shanghai): 3,670-3,700 yuan ($522-526) per tonne, up 10-20 yuan per tonne
Northern China (Tangshan): 3,650-3,660 yuan per tonne, narrowing downward by 10 yuan per tonne
Sellers in Shanghai started selling at around 3,670 yuan per tonne in the earlier part of the day. This rose to mostly 3,680-3,700 yuan per tonne in the afternoon after HRC futures strengthened.
A Shanghai-based trader said trading activity had risen because some downstream buyers stocked up on materials to work overtime over the weekend.