Chinese steelmakers raised their offers on Tuesday January 22 in the absence of any selling pressure before the upcoming Chinese New Year holiday.
DomesticEastern China (Shanghai): 3,700-3,720 yuan ($544-547) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,660-3,680 yuan per tonne, up 30 yuan per tonneMany steelmakers in China raised their offers since they have secured enough orders for production during the February 4-10 holiday to mark the Chinese New Year, a trader in Shanghai said.The uncertain outlook for prices after the holiday is also making mills less eager...