China's hot-rolled coil prices rose on Tuesday September 4 in line with strengthening futures, with participants expecting construction demand to rebound in the coming months.
DomesticEastern China (Shanghai): 4,360-4,390 yuan ($639-643) per tonne, up 10-20 yuan per tonneNorthern China (Tianjin): 4,250-4,270 yuan per tonne, up 10-20 yuan per tonneTransactions were mostly concluded around 4,360-4,370 yuan per tonne in the morning in eastern China, but sellers raised prices to 4,390 yuan per tonne on seeing the active trading.Buyers increased their procurement rates, possibly because they expect downstream demand to pick up in the near future amid indications from the Chinese government that it would increase infrastructure spending, a Tianjin-based trader said.While infrastructure investment grew at a low rate of 5.7% annually from January to July, economists and analysts said the rate will rise...