China's domestic hot-rolled coil prices strengthened on Monday September 30 amid more stringent production curbs, though market participants are wary about them falling after the Golden Week.
DomesticEastern China (Shanghai): 3,620-3,630 yuan ($508-510) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,580 yuan per tonne, up 60 yuan per tonnePrices gained after sentiment picked up in response to the local government in Tangshan, China's steelmaking hub in the northern region, ordering mills under its jurisdiction to curtail the operating rates of their blast furnaces by at least 50% until Wednesday to improve air quality ahead of the country's National Day on Tuesday, according to local industry information provider. The latest directive requires mills with several blast furnaces to run only one of them while idling the others.In contrast, only some mills were required...