China's domestic hot-rolled coil prices edged up on Monday May 11, but market participants are bracing themselves for a retreat as a result of thin trading.
Domestic
Eastern China (Shanghai): 3,390-3,400 yuan ($479-481) per tonne, up 10 yuan per tonne
Northern China (Tangshan): 3,350 yuan per tonne, up 10 yuan per tonne
Sellers kept their offers high amid the relative strength of the futures market, but spot trading activity weakened, several sources said.
Trading activity had picked up last week in the spot market after a five-day break for Labor Day. Downstream...