China's hot-rolled coil prices regained more upward momentum on Monday November 18 on a drop in supply.
DomesticEastern China (Shanghai): 3,610-3,630 yuan ($515-518) per tonne, up 20-30 yuan per tonneNorthern China (Tangshan): 3,570 yuan per tonne, up 10 yuan per tonneTrading activity in both northern and eastern China remained robust during the day, with buyers still restocking amid short supply, sources said.Spot prices rose as a result in spite of a drop in the futures market, which typically dampens sentiment.Inventory levels across the country have been low for several weeks as a result of most market participants destocking previously...