China's domestic hot-rolled coil prices edged up on Thursday March 18 but the market was inactive amid concerns over a possible export tax rebate cut.
Domestic
Eastern China (Shanghai): 4,950-4,980 yuan ($761-766) per tonne, up 10-20 yuan per tonne
Several Shanghai-based trader said they raised their offers in response to rising futures, but found it hard to secure orders.
One of the traders said some domestic buyers were waiting for the government to issue a statement on whether it would cut the export tax rebate for steel products.
On Thursday, word spread in the market about the possibility of the...