China's hot-rolled coil prices fell further on Monday July 8, though market participants expect things to improve soon with trading activity picking up domestically.
DomesticEastern China (Shanghai): 3,860-3,870 yuan ($560-561) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, narrowing downward 10 yuan per tonneSpot prices fell with mills lowering their offers since last Friday, though trading activity appears to have picked up during the day in comparison with the end of last week.Market participants are optimistic about prices either stabilizing or rising in the near future.A Shanghai-based trader said downstream demand remained steady, which encouraged market participants to step up...