Chinese rebar and hot-rolled coil futures tumbled on Monday as production cut rumours were again circulated in the market.
On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 117/tonne ($17/t) lower than last Friday at CNY 4,044/t ($587/t), while the same contract for HRC lost CNY 111/t to CNY 4,181/t.
Both steel and raw materials futures fell on the first trading day of April. The drop in raw ma…
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