China's domestic hot-rolled coil prices were largely stable on Thursday March 5 although supply continued to rise, with an optimistic outlook for demand providing some support to the market.
Domestic
Eastern China (Shanghai): 3,510-3,520 yuan ($504-506) per tonne, narrowing downward by 10 yuan per tonne
Northern China (Tangshan): 3,300-3,310 yuan per tonne, widening upward by 10 yuan per tonne
Trading thinned across the country from a day earlier, with buyers reluctant to place orders for more cargoes since sellers were insisting on high prices.
China's spot markets had 2.69 million tonnes of HRC on the last day of February, up by 6.5% compared with February 20, the China Iron & Steel Association reported on Wednesday.
But market participants expect sellers...