Eastern China (Shanghai):
5,470-5,520 yuan ($840-848) per tonne, widening from both ends
One Shanghai-based trader said spot sellers offered 5,470-5,490 yuan per tonne in the morning and then won deals at 5,500-5,520 yuan per tonne in the afternoon amid futures market rebounds.
Downstream HRC demand remained robust so end-users accelerated their restocking when futures prices gained, the same trader said.
Most market participants believe there is more space for price growth in ferrous raw materials such as iron ore and coking coal rather...