Chinese Steel Prices at 3-Week Low

Reuters reported that Shanghai rebar futures fell to their lowest in almost three weeks on Monday. Iron ore futures also retreated, closing down 0.3 percent at 932 yuan a tonne.

As quoted in the market news:

The most briskly traded rebar contract for May delivery on the Shanghai Futures Exchange fell as low as 3,583 yuan ($590) a tonne, its weakest since Oct. 29. It closed down 0.6 percent at 3,592 yuan.

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