China's hot-rolled coil market was quiet on Tuesday January 21, with producers suspending their operations before the Chinese New Year, while concerns have emerged over post-holiday demand due to the spread of a mysterious respiratory virus that has claimed several lives.
Domestic
Eastern China (Shanghai): 3,860-3,880 yuan ($562-565) per tonne, unchanged
Northern China (Tangshan): 3,590 yuan per tonne, unchanged
The spot market was quiet throughout the day, with many sales representatives of mills already starting their break before the week-long public holiday that starts on Friday.
Few deals have been concluded in the past few days, with prices not going any lower than sellers' offers.
Market participants have raised concerns over producers and downstream consumers of HRC to...