China's hot-rolled coil prices were largely stable on Thursday January 16 amid thin trading activity, though rising inventory levels have raised concerns over they would trend in the weeks ahead.
Domestic
Eastern China (Shanghai): 3,860-3,880 yuan ($560-563) per tonne, narrowing downward by 10 yuan per tonne
Northern China (Tangshan): 3,590 yuan per tonne, unchanged
Trading activity was reported to be thin in Shanghai, though sellers kept prices largely stable from a day earlier, with downstream buyers continuing to wind down ahead of Chinese New Year celebrations at the end of next week.
But the northern Chinese market was "much better," a trader based in Tianjin reported. He said buyers in the region, especially in the provinces of Hebei and Shandong, were...