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Chinese rebar futures prices continue to buck the bullish global trend. Comments made this week on China’s issuance of Local Government Special Purpose Bonds are also flashing warning signs about end-use demand, Kallanish notes. On the Shanghai Futures Exchange the May 2021 rebar contract closed on Wednesday CNY 15/tonne lower than Tuesday at CNY 3,989/t ($611/t), while the same contract for hot rolled coil closed up another CNY 82/t at CNY 4,275/t. In Tangs…
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