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Chinese steel futures have continued to increase as inventory levels are still being drawn lower. Rebar has lost some momentum however as poor weather impact construction activity, Kallanish notes. On the Shanghai Futures Exchange the January 2021 rebar contract closed up CNY 19/tonne at CNY 3,884/t ($590/t), while the same contract for hot rolled coil closed up CNY 50/t at CNY 4,082/t. In Tangshan, billet prices recovered CNY 20/t to CNY 3,590/t. Inventory levels …
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