24
May
12:24
Steel futures tumble lower
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Although the Chinese government has continued to boost the economy through stimulus policies, market players judged measures to have limited effectiveness and pushed rebar and hot rolled coil futures lower, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 136/tonne lower than Monday at CNY 4,468/t ($670/t), and the same contract for HRC closed down CNY 122/t at CNY 4,609/t.
The latest executive meeting of t…
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