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06 Dec

Steel futures rebound as production rises

Chinese rebar and hot rolled coil futures rebounded on Wednesday after two consecutive days of losses. This was supported by recovering raw materials prices, while improving margins pushed up crude steel production in late November, Kallanish notes. On the Shanghai Futures Exchange, the most-traded May 2024 rebar contract closed at CNY 3,918/tonne ($549/t) on Wednesday, up CNY 48/t on the prior trading day. The same contract for …
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