Spot prices of hot
rolled coil (HRC) rose throughout China on Monday supported by falling stocks
and a price hike by Wuhan Steel.
HRC with 5-12mm thickness in Shanghai was at 4,220-4,230
yuan ($659-660) per tonne on Monday, up from 4,200-4,230 last Friday.
Meanwhile, the hot-rolled prices in Beijing and Guangzhou
spot markets also rose 10-20 yuan.
According to market players, “Traders are trying to
push up prices but trading volume remains low.”
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