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26 Sep

Steel futures dive deeper alongside raw materials

Chinese rebar and hot rolled coil futures dived deeper on Tuesday, touching the lowest in the past one month and ten weeks, respectively, Kallanish notes. On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 41/tonne lower than Monday at CNY 3,675/t ($503/t), and the same contract for HRC lost CNY 53/t to CNY 3,759/t. Spot markets remain weak on Tuesday, as no restocking demand showed up to bo…
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