China's domestic hot-rolled coil prices dropped on Monday March 9, with sellers making attempts to destock.
Domestic
Eastern China (Shanghai): 3,490-3,500 yuan ($503-505) per tonne, down 20 yuan per tonne
Northern China (Tangshan): 3,280-3,300 yuan per tonne, narrowed downward by 10 yuan per tonne
With inventories at high levels, sellers lowered their prices to generate buying interest to draw down on their stock.
This, coupled with gains in the...