Chinese hot-roll coil holds steady; outlook hazy

May 06, 2009 | 08:12 AM |

Prices for hot-rolled coil in China's domestic market changed little this week, with few signs of a strong recovery in May.

Hot-rolled coil transaction prices are currently reported at around 3,290 to 3,300 yuan ($482 to $484) per tonne in Shanghai, up marginally from 3,280 to 3,300 yuan last week.

Prices started to inch up last week as traders attempted to push up their offers while buyers were building up stocks before the three-day Labor Day holiday. However, traders said that real transactions have slowed slightly since the beginning of this week.....

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