Eastern China (Shanghai): 3,850-3,880 yuan ($574-579) per tonne, down 20 yuan per tonne
Northern China (Tianjin): 3,780-3,800 yuan per tonne, down 10-20 yuan per tonne
Losses in the futures market weighed on spot prices during the day.
Traders lowered their offers in the hopes of stimulating sales, but buyers cut down on their procurements rates in anticipation of even lower prices.
Downstream industries were described as “not very strong”, and HRC consumers are only buying...