China's domestic hot-rolled coil prices continued to rise on Wednesday April 14 amid declining inventories.
Domestic
Eastern China (Shanghai): 5,490-5,530 yuan ($839-845) per tonne, up 30-80 yuan per tonne
Major warehouses in Shanghai had a total of 445,800 tonnes of HRC on Wednesday, down by 27,900 tonnes from 473,700 tonnes a week earlier, according to a survey by a domestic trading company.
The drop helped lift sentiment among investors, who increased their positions in the futures market. This in turn generated some optimism in the spot market.
A Shanghai-based trader said that demand for HRC...