Eastern China (Shanghai): 4,000-4,020 yuan ($597-600) per tonne, up 30-40 yuan per tonne
Northern China (Tianjin): 3,930-3,950 yuan per tonne, up 10-20 yuan per tonne
Prices in Shanghai rose significantly during the day, with most transactions taking place around 4,010-4,020 yuan per tonne.
A Hangzhou-based trader said supply in Shanghai was “a bit short” due to the strengthening of demand.
Qiu Yuecheng, the director of metal research at Everbright Futures, attributed the growth in demand to “better-than-expected statistics” in downstream industries such...