Neither weak current trading volumes nor the positive impact of production restrictions have dominated sentiment. Chinese rebar and hot rolled coil futures thus continued to fluctuate and ultimately dropped by close of business on Wednesday, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 28/tonne lower than Tuesday at CNY 4,694/t ($742/t), while the same contract for HRC closed down CNY 39/t at CNY 4,805/t.
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