China's hot-rolled coil prices continued to weaken on Monday September 7 despite an announcement by local authorities in Tangshan - the country's steelmaking hub - that inspections would be carried out to check compliance with production restrictions to curb air pollution.
Domestic
Eastern China (Shanghai): 4,010-4,040 yuan ($586-591) yuan per tonne, widening downward by 10 yuan per tonne
Several Shanghai-based traders said trading activity was low in the city amid softening prices.
Buyers were hesitating about whether to place orders amid falling futures, one of the traders said.
Media reports about upcoming mill inspections over September 7-14 in Tangshan failed to bolster sentiment significantly, she said.
The local government said...