China's hot-rolled coil market resumed its downward trend on Friday November 23 with participants still having a pessimistic outlook.
DomesticEastern China (Shanghai): 3,730-3,750 yuan ($538-541) per tonne, down 30-40 yuan per tonneNorthern China (Tianjin): 3,660-3,680 yuan per tonne, down 20 yuan per tonneUnlike most Fridays when downstream buyers would typically restock in case of having to work overtime over the weekend, trading activity during the day was sparse amid expectations of further price decreases, a trader in Hangzhou said.Transactions were concluded around 3,750 yuan per tonne for most of...