China's hot-rolled coil prices continued to rise during morning trading on Tuesday December 22, building upon the 12-year high reached a day earlier, but prices ultimately dipped during the afternoon session amid inactive trading.
Domestic
Eastern China (Shanghai): 4,980-5,060 yuan ($760-772) per tonne, up 30-80 yuan per tonne
A Shanghai-based trader told Fastmarkets that sellers there asked for around 5,060 yuan per tonne in the morning, believing participants were still bullish on the market's momentum after
prices reached their highest since August 2008 on Monday.
But sellers were forced to cut...