CHINA HRC: Some mills conceding lower export prices amid quiet market

China's domestic hot-rolled coil market was largely stable on Friday December 27, though some mills have started to take export orders at lower prices amid thin trading.

Domestic
Eastern China (Shanghai): 3,900-3,910 yuan ($557-559) per tonne, narrowing upward by 10 yuan per tonne
Northern China (Tangshan): 3,640 yuan per tonne, unchanged
Trading activity was reported as stable during the day amid sustained downstream demand. Some speculators also contributed to the day's sales, a Shanghai-based trader said.

These speculators - largely traders working for securities companies - are capitalizing on the price gap between the northern and eastern regions by buying from the former...

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