China's hot-rolled coil prices strengthened on Thursday July 30 amid supply shortages, sources told Fastmarkets.
Domestic
Eastern China (Shanghai): 3,950-3,970 yuan ($564-567) per tonne, widening upward by 10 yuan per tonne
Transactions were largely concluded around 3,950-3,960 yuan per tonne in the morning, the same as a day earlier.
But gains in the futures market in the afternoon pushed up spot prices to 3,970 yuan per tonne.
A Shanghai-based trader said trading activity picked up during the day because there was a shortage of some grades of HRC, especially SS400 products, in Shanghai.
This...