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26 Jun

Chinese steel rests but sentiment remains firm

Chinese steel futures prices took a breather on Wednesday following a rapid increase so far this week. Sentiment has been boosted both by production restrictions and support for end user demand, Kallanish notes. On the Shanghai Futures Exchange the October rebar contract closed at CNY 3,998/tonne ($581/t), just CNY 4/t higher than Tuesday, while the same contract for hot rolled coil closed up CNY 3/t at CNY 3,916/t. Steel markets continue to be buoy…
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