China's hot-rolled coil prices continued to rise on Monday October 12 on news that the country's steelmaking hub of Tangshan would restrict steelmaking activity over the next six months.
Domestic
Eastern China (Shanghai): 3,920-3,950 yuan ($585-590) per tonne, up 40-50 yuan per tonne
The local government of Tangshan has ordered 28 out of 30 steel mills in the city to reduce their blast furnace operating rates by 10-45% between October and March to curb air pollution during the autumn-winter heating season, several domestic media outlets reported on Monday.
The announcement boosted prices nationwide, though sources told Fastmarkets that trading activity was...