Iron Ore-Shanghai Rebar Hits 1-wk Low on Rail Investment Worries

Reuters Africa reports Shanghai rebar futures hit one-week lows on Tuesday as a deadly train accident over the weekend fanned investors’ concerns.

The market news is quoted as saying,

China might slow the pace of investment in high-speed railways, affecting steel demand in the near term.

A speed train crash in China that killed nearly 40 people has fueled market concerns about the safety of the country’s fast-growing rail network and cutbacks on investment.

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