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WEEKLY: SHFE rebar futures price up on demand stability

After fluctuating for the prior two weeks, rebar futures prices in China finally rose over the October 26-30 week, mainly thanks to the robustness of demand, the steady decline in steel stocks and firm coke prices, market watchers explained. Active investments in infrastructure projects continued supporting actual demand too, they suggested.
The most traded rebar contract on the Shanghai Futures Exchange (SHFE) for January delivery closed the daytime session on October 30 at Yuan 3,702/tonne ($553/t), gaining Yuan 51/t from the settlement price on October 23. The rise in rebar futures prices were partially reflected the strong support of raw materials prices.


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