Iron Ore-Shanghai Rebar at 6-Week Lows, Weak Outlook

Reuters Africa reported China rebar steel futures fell more than 2 percent to their lowest in nearly six weeks on Monday.

The market news is quoted as saying,

September and October are normally strong consumption periods for steel in China but Beijing’s credit tightening campaign has hurt demand and the boost from the government’s cheap housing project is waning, traders said.

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