China's domestic hot-rolled coil retreated on Tuesday January 23 amid weak demand, but mills have raised their offers to the export market on expectations of demand improving locally after the Chinese New Year.
Domestic Eastern China (Shanghai): 4,070-4,090 yuan ($635-639) per tonne, down 20-40 yuan per tonne Northern China (Tianjin): 3,930-3,950 yuan per tonne, down 20 yuan per tonne HRC futures dropped to a low of 3,871 yuan per tonne in the afternoon before rebounding in the last trading hour. But...