Chinese hot-rolled coil prices surged on Monday December 3 after the United States and China agreed to a truce to their trade war over the weekend, although there are doubts about the sustainability of the uptrend due to weak demand.
DomesticEastern China (Shanghai): 3,690-3,730 yuan ($530-536) per tonne, up 100-120 yuan per tonneNorthern China (Tianjin): 3,620-3,650 yuan per tonne, up 150-170 yuan per tonneHRC prices posted big gains nationwide after US President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce to the countries' trade war. The US agreed to put off additional tariffs on Chinese products while China pledged to buy a "very substantial" amount...