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SHFE steel futures rebound on unexpected fall in stocks

Steel futures contracts on Shanghai Futures Exchange (SHFE) rebounded on Thursday after Wednesday’s dip as data showing declines in domestic steel stocks came as a surprise to many.
The most-traded rebar and hot-rolled coil contracts on SHFE for October delivery increased by Yuan 20/tonne ($2.8/t) and Yuan 25/t from Wednesday’s settlement prices to Yuan 3,715/t and Yuan 3,722/t respectively as of the afternoon trading on Thursday. Also on Thursday, Mysteel’s latest survey results showed that steel stocks comprising of


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