China's hot-rolled coil prices tumbled on Wednesday October 31 amid persistently weak demand, with buyers remaining on the sidelines on expectations of the market softening further.
DomesticEastern China (Shanghai): 4,080-4,100 yuan ($586-588) per tonne, down 50-60 yuan per tonneNorthern China (Tianjin): 4,050-4,060 yuan per tonne, down 30 yuan per tonnePrices tumbled during the day following losses in the futures market.Sentiment, already weak due to the sustained weakness in demand, took a further hit as a result, though a few producers ramped up production after overhauling their steelmaking equipment.Most buyers...