China's hot-rolled coil exporters raised their offers on Tuesday December 18 despite a weakening domestic market amid robust demand in South America, sources told Fastmarkets MB.
DomesticEastern China (Shanghai): 3,800-3,810 yuan ($551-552) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 3,630-3,640 yuan per tonne, down 20 yuan per tonneDomestic prices retreated slightly because downstream demand was not showing any clear signs of a rebound, a Zhejiang-based source said.The weakening domestic prices weighed on the futures market, resulting in the HRC contract tumbling late in the morning session, he said.A second source in...