CHINA HRC: Buyers bide their time ahead of VAT cut

China’s domestic hot-rolled coil prices were flat on Thursday March 28, with market participants taking a wait-and-see approach.

Domestic Eastern China (Shanghai): 3,850-3,860 yuan ($573-574) per tonne, unchanged Northern China (Tianjin): 3,790-3,800 yuan per tonne, unchanged A few buyers raised their procurement rates amid gains in the futures market in the earlier part of the day, sources said. But others mostly suspended their purchasing plans ahead of a reduction...


Jessica Zong

March 28, 2019

10:37 GMT