Hot-rolled coil spot prices in China retreated to eight-month lows on Thursday November 4 as part of a broad-based decline led by coal.
Domestic
Eastern China (Shanghai): 4,980-5,000 yuan ($779-782) per tonne, down by 70-100 yuan per tonne
Spot HRC prices in China's eastern market fell to their lowest since March 18, wiping out all of Wednesday's gains.
Traders reported that the price decline has reduced trading liquidity in spot HRC.
The most-traded HRC contract on the Shanghai Futures Exchange reversed the previous day's rally, putting it on track for its fourth consecutive negative week.
Ferrous futures prices fell across the board after Wednesday's sharp rebounds.
The all-out retreat followed the National Development...