China's hot-rolled coil prices retreated on Thursday August 15 after trading activity fell for a third day.
DomesticEastern China (Shanghai): 3,710-3,720 yuan ($528-529) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,720 yuan per tonne, narrowing downward by 10 yuan per tonneBuying slowed further during the day, with downstream buyers putting up resistance despite mills keeping their ex-works prices flat. This resulted in spot prices falling. Some market participants have a bearish short-term outlook for prices, but others...