After falling sharply, Chinese rebar and hot rolled coil futures have started to fluctuate at lower levels. Their direction is unclear given the absence of further driving forces, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 96/tonne lower than Tuesday at CNY 4,128/t ($614/t), and the same contract for HRC closed down CNY 96/t at CNY 4,195/t.
Amid production cuts at both blast furnaces and coke ove…
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