The price of hot-rolled coil in China continued to drop on Tuesday August 6, with sentiment showing a bearish attitude toward price trends.
DomesticEastern China (Shanghai): 3,690-3,700 yuan ($525-526) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,730 yuan per tonne, down 20 yuan per tonneTrading was moderate, even if sellers did cut prices, a Shanghai-based trader said.Mills in the north of China have stopped delivering goods to eastern China after prices in Shanghai became lower than those for ex-works material in Tangshan - the steelmaking hub in northern China - for some time, several sources said.A second Shanghai-based trader said demand is still stable but sentiment has been dampened after iron ore...