China's hot-rolled coil prices rose on Thursday February 20 amid optimism attributed to the progress of work resumption in downstream markets in the wake of the novel coronavirus (2019-nCoV) outbreak.
Domestic
Eastern China (Shanghai): 3,490-3,510 yuan ($499-502) per tonne, up 10-20 yuan per tonne
Northern China (Tangshan): 3,270-3,300 yuan per tonne, up 40-70 yuan per tonne
While sellers in Shanghai started with offers of 3,490 yuan per tonne in the morning, prices eventually rose to 3,500-3,510 yuan per tonne in the afternoon on active trading.
Trading picked up even faster in the north, which led mills there to raise...