CHINA HRC: Strengthening domestic market has overseas buyers bidding higher

China's domestic hot-rolled coil prices rebounded on Friday December 4, motivating overseas buyers to pay higher prices for the Chinese flat steel product.

Domestic
Eastern China (Shanghai): 4,280-4,290 yuan ($654-655) per tonne, up 10 yuan per tonne
Northern China (Tangshan) - weekly assessment: 4,130-4,160 yuan per tonne, up 130 yuan per tonne
Spot prices increased again during the day after a slight dip a day earlier, with buyers stepping up their purchases on seeing gains in the futures market.

Several traders in Shanghai said downstream demand was largely stable and attributed the price gains in recent days to the high liquidity in the financial market after China's central bank injected fund into...

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