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16 Nov

Chinese steel firms on investment growth

Chinese steel futures strengthened slightly on Monday following improved economic data. Infrastructure investment has helped fuel demand but has been showing signs of tailing off, Kallanish notes. On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 12/tonne higher than Friday at CNY 3,852/t ($582/t), while the same contract for hot rolled coil closed up CNY 28/t at CNY 3,998/t. In Tangshan, billet prices slipped CNY 10/t on Monday to CNY 3,…
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