Chinese hot-rolled coil sellers kept prices steady on Tuesday March 19 on robust domestic demand ahead of a decrease of the country's value-added tax.
DomesticEastern China (Shanghai): 3,850-3,870 yuan ($573-576) per tonne, widening downward by 10 yuan per tonneNorthern China (Tianjin): 3,810-3,830 yuan per tonne, unchangedPrices were largely stable in both eastern and northern China, with buyers still snapping up materials before the VAT rate for the manufacturing sector is lowered to 13% from 16% on April 1.Buyers - traders and downstream end users alike...