China's hot-rolled coil prices weakened on Monday September 28 despite active buying, with buyers restocking ahead of an eight-day break to mark the country's National Day.
Domestic
Eastern China (Shanghai): 3,820-3,840 yuan ($560-563) yuan per tonne, down 10-20 yuan per tonne
Prices fell during the day even though most sources reported that there was more trading activity during the day than any one day last week.
Buyers were stocking up on materials on Monday ahead of the October 1-8 Golden Week, sources in Shanghai told Fastmarkets.
But sellers lowered their offers rather than raise them because they...