China's hot-rolled coil prices continued to fall on Wednesday August 21 due to thin trading despite gains in the futures market later in the day.
DomesticEastern China (Shanghai): 3,690-3,710 yuan ($523-526) per tonne, down 20-30 yuan per tonneNorthern China (Tangshan): 3,700 yuan per tonne, down 20-30 yuan per tonneSpot prices dropped after mills lowered their offers by 30-50 yuan per tonne in response to sparse trading over the past few days.Trading activity remained thin in the morning amid a declining futures market, which sent prices to around 3,690 yuan per tonne in Shanghai.An uptrend experienced by HRC futures in the afternoon nudged spot prices up to around...