Some market participants expect China's hot-rolled coil prices to rebound in the near future, bolstered by stronger trading, although ex-works prices in northern China dropped on Monday August 12.
DomesticEastern China (Shanghai): 3,660-3,670 yuan ($519-521) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,650-3,670 yuan per tonne, down 30-50 yuan per tonneSpot prices in Shanghai gained, with trading being stronger than Friday, a source there told Fastmarkets.Although ex-works prices in Tangshan were for a while were lower than those on Friday, buyers had to buy at 3,660-3,670 yuan per tonne in the afternoon, up 10-20 yuan per tonne from those in the morning.Price drops in the...