Eastern China (Shanghai):
4,850-4,870 yuan ($748-751) per tonne, up 150-170 yuan per tonne
Several traders in Shanghai said that while trading activity in the spot market was weak, sellers refused to issue low offers upon seeing the surging futures market.
One of them told Fastmarkets that he was expecting industries commodities prices to continue to rise despite having risen in the past few months, amid a rise in global inflation.
Many market participants expect inflation to persist for the next few months since governments across the world are injecting large amounts of...