China's domestic hot-rolled coil prices were stable on Friday April 17 but trading activity fell, with market sentiment dampened by a drop in the country's gross domestic product in the first quarter - the first time in three decades.
Domestic
Eastern China (Shanghai): 3,330-3,340 yuan ($470-472) per tonne, unchanged
Northern China (Tangshan): 3,260 yuan per tonne, unchanged
A Shanghai-based trader said sellers in the spot market maintained their prices with futures prices in the earlier part of the day staying above levels seen on Thursday, but buyers were reluctant to place orders amid dampened sentiment.
HRC futures went on to fall in the afternoon after the release of weak economic figures for the first quarter.
China's National Bureau of Statistics (NBS) reported on Friday that the country's GDP...