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18 Jun

Steel futures hold as negative factors fade

Chinese rebar and hot rolled coil futures on Tuesday basically held steady since the market was quiet after negative factors eased, Kallanish notes. On the Shanghai Futures Exchange, the most-traded October 2024 rebar contract closed at CNY 3,618/tonne ($499/t) on Tuesday, up just CNY 5/t compared from the prior trading day. The same contract for HRC gained CNY 11/t to CNY 3,791/t. Market participants calmed down on Tuesday after Monday’s declines…
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