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16 Nov

Steel futures climb to multi-month highs

Chinese rebar and hot rolled coil futures continued to hike on Thursday and climbed to the highest level in the past seven and four months respectively. Just a month ago, they had touched five-month lows, Kallanish notes. On the Shanghai Futures Exchange, the most-traded January 2024 rebar contract ended Thursday at CNY 3,972/tonne ($547/t), up CNY 52/t from the prior trading day. The same contract for HRC gained CNY 48/t to CNY …
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