Chinese mills raised their domestic offers on Wednesday October 23, though buyers in the eastern region put up some resistance against them, resulting in a smaller price rise in comparison with those in the northern region.
DomesticEastern China (Shanghai): 3,500-3,520 yuan ($494-497) per tonne, widening upward by 10 yuan per tonneNorthern China (Tangshan): 3,500 yuan per tonne, up 20 yuan per tonneSteelmakers in Tangshan, having secured a fair number of orders over the past few days, raised their offers by 20 yuan per tonne during the day.While buying activity in the northern region was steady, that in the east moderated from that over the past few days, which limited the spot price increases there.Market participants in Tangshan - where most Chinese HRC producers are located - came under...