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The futures price for rebar on the Shanghai Futures Exchange (SHFE) ended higher on week as of Friday, as investors were encouraged by improved market sentiment in the physical market. Other positive factors included the ongoing output cuts among steelmakers and the approaching round of additional environmental facility inspections, Mysteel notes.
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Most base metals contracts on the Shanghai Futures Exchange (SHFE) ended lower week-on-week on Friday August 3, weighed down by the renewed trade tensions between China and the United States and a stronger US dollar.
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The profits of China's major industrial enterprises totaled Yuan 7.52 trillion ($1.2 trillion) in 2017, and the year-on-year increase at 21% was far higher than 2016's 8.5%, or the highest since 2012, thanks to China's continuing efforts in removing the excess capacities from the sectors such as coal, steel, and aluminum, as well as in lowering production costs, according to the latest release from China's National Bureau of Statistics (NBS) on January 26.
