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20 Nov

Steel futures bounce back on financing relaxation signal

Chinese rebar and hot rolled coil futures erased Friday’s declines and bounced back on Monday due to some financing relaxation signals for the real estate market, Kallanish notes. On the Shanghai Futures Exchange, the most-traded January 2024 rebar contract ended Monday at CNY 3,983/tonne ($555/t), up CNY 54/t from the prior trading day. The same contract for HRC gained CNY 35/t to CNY 4,047/t. It was reported on Monday that Ch…
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