China's hot-rolled coil sellers cut their prices on Wednesday July 24 amid weak demand, although some participants believe a rebound could take place in days due to ongoing production curbs in the northern region.
DomesticEastern China (Shanghai): 3,830-3,850 yuan ($557-559) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, down 20 yuan per tonneSpot prices fell across the country after mills lowered their ex-warehouse prices by around 20 yuan per tonne in the morning.A steelmaker source in northern China told Fastmarkets that demand had been weak in recent days, which results in inventory levels rising.Transactions in Shanghai were made as low as around 3,830 yuan per tonne in the...