Asian hot-rolled coil prices were up on an FOB China basis, amid a positive sentiment seen in the Chinese domestic market with both futures prices rising for for the day to one year high and spot prices reaching its highest point in 14 months. S&P Global Platts assessed SS400 HRC 3 mm thick at $478/mt FOB China on July 31, up $3/mt on the day. Platts assessed SAE1006 HRC at $490/mt FOB China on July 31, up $2/mt day on day. On July 31, mills were holding offers for SS400 coils stable at the last working day of the week, mainly for October shipment. It’s likely mills would raise offers further in the week starting August 2, amid the bullish domestic market.
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