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18 Sep

Steel futures hike on boosted mood

Chinese rebar and hot rolled coil futures hiked further on Monday with rebar at the highest level since early August, Kallanish notes. Sentiment has been supported by better-than-expected manufacturing investment data for August and a reserve requirement ratio cut last Friday. On the Shanghai Futures Exchange, the most-traded January 2024 rebar contract ended Monday at CNY 3,842/tonne ($527/t), up CNY 18/t on the prior trading day. The same contract for …
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