Eastern China's hot-rolled coil prices retreated on Wednesday September 25 with traders seeking more sales before the country's October 1-7 Golden Week.
DomesticEastern China (Shanghai): 3,640-3,650 yuan ($512-513) per tonne, down 20 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, unchangedHRC futures traded below Tuesday's settlement price of 3,522 yuan per tonne for most of the day, which resulted in spot prices weakening and sparking pessimism in the market.Traders in eastern China lowered their offers to draw down their inventories before...