Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, widening upward 30 yuan per tonne
Northern China (Tianjin): 3,840-3,850 yuan per tonne, unchanged
Market participants in Shanghai rushed to buy at 3,830-3,850 yuan per tonne in the morning after HRC futures rose above spot prices.
But they withdrew just as quickly after HRC futures retreated, which left products priced as low as 3,900 yuan per tonne having difficulty finding takers.
A Hangzhou-based trading source said that this...