CHINA HRC: Prices flat but downside expected

China's hot-rolled coil prices were stable on Monday December 16, though some market participants in the eastern region are expecting prices to fall in the next few days with more cargoes being delivered there from the north.

Domestic
Eastern China (Shanghai): 3,880-3,890 yuan ($556-558) per tonne, unchanged
Northern China (Tangshan): 3,640-3,650 yuan per tonne, unchanged
A Shanghai-based trader described trading activity on Monday as merely moderate amid a softening of HRC futures, which dampened sentiment in the spot market.

Although prices were unchanged due to tight supply, this is set to change in the next few days with more and more cargoes being delivered to the eastern region from the north...

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