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SHFE steel futures slide further on bearish sentiment


The most-traded futures contracts for rebar and hot-rolled coil (HRC) on the Shanghai Futures Exchange (SHFE), both for October delivery, continued to lose ground over June 21-25, with the former slipping by Yuan 38/tonne ($5.9/t) on week, and the latter declining more significantly by Yuan 112/t on week, SHFE data show. Market sentiment remained subdued on the thinning trading, market watchers said.
On June 25, the SHFE rebar contract closed the daytime trading session at Yuan 5,066/t, and the HRC contract at Yuan 5,288/t when the trading session ended, according to the SHFE. China’s domestic steel market has entered a slack steel consumption season amid the hot and humid summer weather, as suggested


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