Spot prices for hot-rolled coil in China inched lower on Wednesday November 17 after a small rally in the futures market failed to provide sufficient upward momentum to the spot market.
Domestic
Eastern China (Shanghai): 4,680-4,740 yuan ($734-743) per tonne, down by 10-40 yuan per tonne
The most-traded HRC contract the Shanghai Futures Exchange rose on Wednesday, snapping three consecutive trading days of losses. It hit an intraday high of 4,473 yuan per tonne, although this was lower than the previous day's high of 4,527 yuan per tonne.
The rally in HRC futures...