China's domestic hot-rolled coil prices were stable on Monday July 6 amid active trading, while import activity was reported to be continuing albeit at a slower pace.
Domestic
Eastern China (Shanghai): 3,740-3,760 yuan ($529-532) per tonne, unchanged
A Shanghai-based trader said there was steady buying in the city amid stable futures, which bolstered sentiment.
He said HRC inventory levels in eastern China were relatively lower than other parts of the country, which motivated buyers to step up their buying rates whenever there was a price increase.
While heavy rain across many cities in eastern China sapped demand for rebar - use in construction - on Monday, that for HRC - mainly used in manufacturing - was largely stable during...