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26 May
10:51

Steel futures tumble on SHFE announcement

Chinese rebar and hot rolled coil futures were stable on Wednesday morning, but then fell rapidly after the Shanghai Futures Exchange (SHFE) stated it would introduce “zero-tolerance” measures to curb unreasonable price fluctuations, Kallanish notes. On the Shanghai Futures Exchange the October rebar contract closed CNY 252/tonne lower than Tuesday at CNY 4,667/t ($730/t), while the same contract for HRC closed down CNY 264/t at CNY 5,0…
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