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31 May
11:11

Steel futures remain weak on shrinking manufacturing

As macro indicators for the manufacturing industry weakened in May, Chinese rebar and hot rolled coil futures remained lower through most of the day despite closing a bit higher, Kallanish notes. On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 3/tonne higher than Tuesday at CNY 3,463/t ($487/t), while the same contract for HRC gained CNY 9/t to CNY 3,581/t. The National Bureau of Statisti…
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