Eastern China (Shanghai):
3,510-3,530 yuan ($501-504) per tonne, up 10-20 yuan per tonne
Northern China (Tangshan):
3,380 yuan per tonne, up 50-60 yuan per tonne
Mills in the north of China raised ex-works offers for flat steel including HRC, cold-rolled coil and hot-dipped galvanized coil, after downstream consumers rushed to place orders at the weekend.
Buyers restocked on expectations that China would post a faster economic recovery, following the news late on Friday that the People’s Bank of China (PBOC) would cut the reserve requirement ratio...