Eastern China (Shanghai): 3,790-3,810 yuan ($564-567) per tonne, down 20-30 yuan per tonne
Northern China (Tianjin): 3,740-3,760 yuan per tonne, down 20-30 yuan per tonne
Spot prices for HRC dropped following the decline in the futures market. A Shanghai-based trader said some of the traders who trade in both futures and physical products to hedge their risks took a step back from both markets during the day after news emerged over the weekend over the possibility of a property tax.
A senior member of China’s legislature said...