Chinese hot-rolled coil prices strengthened on Monday July 1 on optimism generated by the agreement to resume trade talks between China and the United States.
DomesticEastern China (Shanghai): 4,000-4,020 yuan ($582-585) per tonne, up 80 yuan per tonneNorthern China (Tianjin): 3,920-3,940 yuan per tonne, up 70-80 yuan per tonneMills raised their offers over the weekend amid improved sentiment after US President Donald Trump and his Chinese counterpart Xi Jinping agreed to resume trade talks between both countries. Trump also said that no additional tariffs would be imposed on Chinese products.Trading activity in Shanghai on Monday was moderate, with some downstream buyers starting to step up on buying...