China's hot-rolled coil prices fell on Thursday April 8 amid moderate trading activity, but exporters were able to secure orders at higher prices on restocking demand overseas.
Domestic
Eastern China (Shanghai): 5,480-5,520 yuan ($838-844) per tonne, down 50-70 yuan per tonne
A Shanghai-based trader said sellers in the spot market sold HRC at 5,480-5,500 yuan per tonne in the morning, but they were able to secure orders at 5,500-5,520 yuan per tonne in the afternoon after sentiment improved slightly after futures rebounded.
Trading activity overall was moderate during the day, he said.
A Tianjin-based trader believes HRC prices will weaken in the...