China's hot-rolled coil prices rebounded on Friday July 3, with rising futures bolstering sentiment. Some importers have started to worry about the delivery of Indian cargoes amid rising tensions between China and India.
Domestic
Eastern China (Shanghai): 3,740-3,760 yuan ($529-532) per tonne, up 20-30 yuan per tonne
Northern China (Tangshan) - weekly assessment: 3,620-3,650 yuan per tonne, up 10-20 yuan per tonne
The Shanghai market was active during the day as a result of the improved sentiment.
A trader in the city said the rebound led buyers to return to the market for cargoes because inventory levels in eastern China were relatively lower in comparison with other regions. The same trader had expected demand to weaken just several days ago.
HRC prices in Shanghai increased by 10-20...