China's hot-rolled coil prices were stable on Thursday June 20 amid a pick-up in sentiment following futures gains and more expensive iron ore,even though downstream demand has not shown any significant improvement.
DomesticEastern China (Shanghai): 3,770-3,780 yuan ($546-547) per tonne, unchangedNorthern China (Tianjin): 3,760-3,780 yuan per tonne, widening upward 10 yuan per tonnePrices were largely stable nationwide with trading activity moderate.Sentiment has picked up a bit after futures gains since yesterday, a Hangzhou-based trader said. Meanwhile, some participants have started to believe HRC prices will not drop significantly given raw materials such as iron ore are expected to gain...