China HR Coil prices for 3MM slipped further by $5/mt on over supply and sluggish demand. Prices of CR Coil, Plate and HDG were down by $3-5/Mt from last week.
HR Coil in China traded at $565-570/Mt, down by $5-10 from last week trade. CR Coil of 1MM is traded at $735-740 down by $5 from last week.
'Demand from end user is not exciting to keep the inventory', said trader based in China. Prices will shoot from this level if demand increases, he added
In contrary, Ningbo Steel is going to scale its production up. Media reports owning the improvement of local demand, company is going to increase its production of finished steel.
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