China's domestic hot-rolled coil prices gained more upward momentum on Friday January 8 despite thin trading.
Domestic
Eastern China (Shanghai): 4,680-4,730 yuan ($724-732) per tonne, up 60-70 yuan per tonne
Northern China (Tangshan) - weekly assessment: 4,400-4,450 yuan per tonne, down 30 yuan per tonne
Sources in Shanghai said sellers in the city kept asking for higher prices despite the market being inactive during the day.
A Shanghai-based trader said many market participants were expecting prices to stay high in the next few weeks because downstream buyers...