Hot-rolled coil prices picked up some gains in east China on Monday October 22, but market participants' outlook has become more bearish due to a possible increase in supply amid weak demand.
DomesticEastern China (Shanghai): 4,210-4,220 yuan ($607-609) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 4,100-4,110 yuan per tonne, unchangedPrices in Shanghai picked up a bit on Monday following losses over the second half of last week, with trading activity being a bit higher compared with last Friday, a trader in the city said.Gains in the futures market also improved sentiment in the spot market.But despite the increases, market participants are...