China's hot-rolled coil prices picked up on Monday January 14 following increases in the futures market, while exporters kept their offers high amid a strengthening of the yuan.
DomesticEastern China (Shanghai): 3,630-3,650 yuan ($537-540) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tianjin): 3,630-3,650 yuan per tonne, up 10-20 yuan per tonnePrices rose nationwide during the day, but sources said downstream demand was still "not very robust" because more and more manufacturers were suspending their operations amid the deepening winter.Market participants expect prices to be even lower in the days to...