CHINA HRC: Mills use 'hunger marketing' for exports despite domestic price drop

China's hot-rolled coil producers allocated limited volumes for export on Thursday November 12 despite falling prices in the domestic market.

Domestic
Eastern China (Shanghai): 4,050-4,070 yuan ($612-615) per tonne, down 10 yuan per tonne
Several sources in Shanghai said trading was moderate in the spot market on Thursday after sellers lowered their offers.
One of them believes prices will weaken further if HRC futures continue to fall.

He said the recent price surge in the HRC market was due to sentiment improved by overall gains in ferrous futures, and that if futures fall now,...

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