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14 Jan

Chinese steel futures gain as trade deal approaches

Chinese steel futures prices strengthened again on Tuesday but remain in the range where they have fluctuated. Domestic markets remain quiet but general sentiment is being supported by the expected signing of the mini trade deal with the USA, Kallanish notes. On the Shanghai Futures Exchange the May rebar contract closed at CNY 3,570/tonne ($519/t), CNY 40/t higher than Monday, while the same contract for hot rolled coil closed up CNY 32/t at CNY 3,596/t. Chinese…
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