China's hot-rolled coil market weakened further on Wednesday October 9, with mills lowering prices to boost trading after the lifting of production curbs in the northern region.
DomesticEastern China (Shanghai): 3,590-3,600 yuan ($502-504) per tonne, down 20 yuan per tonneNorthern China (Tangshan): 3,540 yuan per tonne, down 20 yuan per tonneTraders in the spot market lowered their prices accordingly after mills cut their offers in the morning.A Shanghai-based trader said that the price cuts were not because trading activity was too low, but that mills were looking to secure more orders, having...