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27 May
11:54

Steel futures recover as inventory ends decline

Chinese rebar and hot rolled coil futures rebounded a little on Thursday after a six-day decline. Markets remain unsettled, however, and inventories have begun to increase at mills, Kallanish notes. On the Shanghai Futures Exchange the October rebar contract closed CNY 150/tonne higher than Wednesday at CNY 4,817/t ($756/t), and the same contract for HRC closed up CNY 169/t at CNY 5,186/t. In Tangshan, billet prices gained CNY 30/t to CNY 4,730…
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