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08 Dec

Steel, iron ore pause after surge

Chinese steel futures inched higher on Tuesday, while seaborne iron ore prices hovered around their peak. Both markets remain tight, with inventories falling, but traders are pausing after the rapid increase of previous days. On the Shanghai Futures Exchange the May 2021 rebar contract closed CNY 2/tonne higher than Monday at CNY 3,914/t ($599/t). The May contract also became the most-traded contract for hot rolled coil on Tuesday, and closed CNY 13/t higher at CN…
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