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China’s rebar futures price down, longer-term positive

China’s rebar futures price on the Shanghai Futures Exchange (SHFE) spiralled down over January 11-15 in reaction to the softening demand while swelling stocks, but the domestic market sources remained optimistic upon the price outlook in the longer term, Mysteel Global noted.
SHFE’s most-traded May 2021 rebar contract lost Yuan 113/tonne ($17.5/t) from the settlement price of January 8 when closing the daytime trading session on January 15 at Yuan 4,360/t, still within the wide range of Yuan 4,250-4,600/t since late December. “The supply-demand fundamentals has changed with actual demand weakening, and traders’


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