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14 Sep

Steel futures edge up on inventory loss

The new week's inventory data revealed both positive and negative factors, so Chinese rebar and hot rolled coil futures fluctuated violently on Thursday and ultimately rose slightly, Kallanish notes. On the Shanghai Futures Exchange, the most-traded January 2024 rebar contract ended Thursday at CNY 3,794/tonne ($523/t), up CNY 17/t on the prior trading day. The same contract for HRC gained CNY 16/t to CNY 3,868/t. Weekly rebar production continued to fal…
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