Eastern China (Shanghai): 3,800-3,810 yuan ($549-550) per tonne, down 20 yuan per tonne
Northern China (Tianjin): 3,780-3,790 yuan per tonne, unchanged
The domestic market remained inactive despite sellers making price cuts.
A Tianjin-based trader pointed out that inventory levels had risen nationwide due to mills’ accelerating production recently.
The spot HRC market saw an increase of 95,600 tonnes over the week to Thursday, according to a domestic steel consultancy. While it also said that mills’ stockpiles had fallen,...