China's hot-rolled coil prices picked up some strength on Monday January 7 amid steady demand, with supply said to be tightening amid producers' bearish outlook for the market.
DomesticEastern China (Shanghai): 3,670-3,680 yuan ($534-536) per tonne, up 30 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, up 40 yuan per tonneThe day's price gains were bolstered by demand from end users, with downstream demand being described as stable in recent days, a Hangzhou-based trader told Fastmarkets MB.Supply is said to be relatively tight because the pessimistic outlook for prices toward the end of...