The gap between export offers and bids for hot-rolled coil in China narrowed on Wednesday November 14, raising expectations of the Chinese product finding favor among overseas buyers again.
DomesticEastern China (Shanghai): 3,800-3,810 yuan ($546-547) per tonne, narrowing downward 10 yuan per tonneNorthern China (Tianjin): 3,840-3,850 yuan per tonne, up 10-20 yuan per tonneDomestic prices were largely stable during the day due to gains in the futures market.Market participants said that the strength of rebar futures helped support HRC contracts as well, having attracted funds to the ferrous futures market.Prices in Tianjin edged up, widening their gap with...