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Sentiment in the Chinese steel market turned bearish after the US Federal Reserve raised interest rates. Benefiting from a decline in inventories, rebar and hot rolled coil futures moved higher from their troughs on Thursday, Kallanish notes. On the Shanghai Futures Exchange, the most-traded January 2023 rebar contract closed CNY 101/tonne higher than Wednesday at CNY 3,765/t ($533/t), while the same contract for HRC gained CNY 101/t at CN…
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