China's hot-rolled coil market appeared to have held up against threats of higher import tariffs in the United States on Monday May 6, though sentiment took a beating, which could result in some downside for prices.
DomesticEastern China (Shanghai): 4,060-4,070 yuan ($603-604) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, unchangedSpot prices were largely stable amid relatively low inventory levels, several sources told Fastmarkets MB during the day. This was especially so in the eastern region, where prices edged up.The relative stability contrasted against the gloom in the global commodities and stock markets, which declined after US president Donald Trump threatened higher tariffs on $200 billion worth of Chinese...