Eastern China (Shanghai):
4,280-4,310 yuan ($661-666) per tonne, up by 20 yuan per tonne
The news coupled with the fact that a few mills already cutting production on their own accord due to losses pushed up both the futures and spot markets.
But end-user demand continued to drop ahead of the upcoming February 11-17 Chinese New Year holiday. Restocking demand was also weak due to current prices being...