China's hot-rolled coil prices rebounded on Friday January 15 after the futures market rallied, with sources saying that market participants are optimistic on the economic outlook for the new year.
Domestic
Eastern China (Shanghai): 4,550-4,560 yuan ($704-705) per tonne, up 20-30 yuan per tonne
Northern China (Tangshan) - weekly assessment: 4,360-4,410 yuan per tonne, down 40 yuan per tonne
Trading activity picked up on Friday amid price gains, several Shanghai-based traders told Fastmarkets.
Sellers there were able to win deals at higher prices on improved sentiment after the futures market rallied.
One trader said that long-bidding futures traders were going back to the market because of the...