China's domestic hot-rolled coil prices were unchanged on Tuesday July 23, with the opposing factors of production curbs and relatively weak demand cancelling out each other.
DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, unchangedNorthern China (Tianjin): 3,850-3,860 yuan per tonne, unchangedSpot prices were stable across the country amid moderate trading.Buyers comprised largely of downstream consumers, with the small difference between spot and futures prices providing securities traders with little incentive to trade.Market participants expect prices to stay high after local authorities in Tangshan, the country's steelmaking hub, said that efforts to curb production to lower emissions...