Eastern China (Shanghai)
: 4,130-4,150 yuan ($630-633) per tonne, up 20-30 yuan per tonne
Trading in the spot market was more active than Wednesday amid gains in the futures market, while news about diminishing inventories also helped lift market sentiment, sources told Fastmarkets.
The most-traded January HRC futures contract closed at 4,078 yuan per tonne on Thursday, up by 31 yuan from Wednesday.
A Shanghai-based trader said most market participants are bullish on the price in the short term, although they are uncertain about the sustainability of the rally....