Chinese hot-rolled coil prices remained largely stable on Wednesday March 20 despite a weakening of the futures market.
DomesticEastern China (Shanghai): 3,860-3,880 yuan ($575-578) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,810-3,830 yuan per tonne, unchangedAlthough futures declined during the day, which dampened buying interest among some buyers, others continued to snap up HRC sold at the existing 16% value-added tax to capitalize on the decrease to 13% next month by claiming input tax deductions at the former rate. HRC sold...