A few Chinese steelmakers raised their export offers for hot-rolled coil on Monday July 20 amid stable domestic prices and a weakening dollar.
Domestic
Eastern China (Shanghai): 3,880-3,890 yuan ($555-556) per tonne, narrowing from 3,870-3,900 yuan per tonne
Trading was thin on Monday, with buyers taking a wait-and-see approach to the market amid falling futures, sources told Fastmarkets.
But prices in eastern China were largely stable due to relatively low inventory levels in this region compared with others, a Shanghai-based trader said.
Most traders still prefer to sell HRC to northern or southern China where they can enjoy higher profit margins due to either lower transport...