China's domestic hot-rolled coil prices held steady on Wednesday March 24, with support emerging from a pick-up in trading activity, sources told Fastmarkets.
Domestic
Eastern China (Shanghai): 5,050-5,080 yuan ($776-780) per tonne, unchanged
A Shanghai-based trader noted that trading was particularly active in the afternoon when HRC futures registered strong gains.
While spot prices were largely stable, he has a positive outlook for prices over the next few days amid the return of demand.
A survey done by the company he works for found that major warehouses in Shanghai had 470,500 tonnes of HRC on Wednesday,...