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11 Sep

Steel futures rebound as markets remain stable

Chinese rebar and hot rolled coil futures rebounded on Monday after Friday’s slump, but spot markets remained stable with no more bullish news, Kallanish notes. On the Shanghai Futures Exchange, the most-traded January 2024 rebar and HRC contract ended Monday at CNY 3,759/tonne ($516/t) and CNY 3,851/t respectively. Both of them were up CNY 42/t on the prior trading day. The increases in raw materials futures such as coking coal boo…
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