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Iron Ore: China Steel Futures Rise for 2nd Day, Ore Firm
Aug. 23, 2011 11:11AM PST
Base Metals Investing Reuters Africa reports Shanghai rebar futures rose again with expected demand to continue from construction in China.
Reuters Africa reports Shanghai rebar futures rose again with expected demand to continue from construction in China.
The market news is quoted as saying,
Iron ore prices were benefitting from the resilience in China’s steel prices, with spot rates staying firm although some mills are exercising caution in replenishing inventories, waiting for price dips before buying.
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