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China steel-linked commodities futures tumble, on expectation gains outpacing physical demand

Posted on 19 July 2016

Chinese steel-related commodities futures dived on Monday, erasing last week’s rally as investors felt the previous gains outpaced physical demand for steel in China, the world’s top producer.
The October benchmark rebar contract on the Shanghai Futures Exchange and September iron ore contract on the Dalian Commodity Exchange deepened losses in the afternoon trading, hitting downside limit of 6 percent by close. Rebar was at a one-week low of 2,362 yuan ($352.61) a tonne and iron ore ended the day by 431 yuan a tonne………………………………………..Full Article: Source


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