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28 Mar

Ferrous futures recover despite weak demand

Chinese rebar and hot rolled coil futures recovered slowly on Tuesday as pressure from overseas banking crises has eased this week, Kallanish notes. On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 31/tonne ($4.5/t) higher than Monday at CNY 4,136/t ($600/t), while the same contract for HRC gained CNY 30/t to CNY 4,255/t. The overall trend of China's steel market in March showed …
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