China's hot-rolled coil prices reached their highest since August 2008 on Monday December 21 after futures hit the daily upper limit of 5% while buying in the spot market was active.
DomesticSellers in Shanghai were offering around 4,950 yuan per tonne when futures started at high levels this morning. Spot prices further rose to 4,960-4,980 yuan per tonne after buyer rushed to restock, several sources told Fastmarkets.A Shanghai-based source believes the rise in futures partly reflected surges in the...