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China’s ferrous futures gain on rising use of industrial metals

Sumary of China’s ferrous futures gain on rising use of industrial metals:

  • Article content BEIJING — Chinese ferrous futures rose on Thursday, lifted by rising consumption of industrial metals, while concerns about steel output curbs also underpinned prices…
  • Stockpiles of five main steel products held by traders in China fell to 21.7 million tonnes as of Thursday from 22.2 million tonnes a week earlier, according to Mysteel consultancy…
  • Construction steel rebar on the Shanghai Futures Exchange , for May delivery, ended up 0.4% at 4,759 yuan ($732.23) a tonne…
  • Steel prices were supported by rising raw material prices as futures on the Dalian Commodity Exchange also gained…
  • Article content Huatai Futures, however, warned that with carbon emission controls and overall crude steel output-cut plans, iron ore consumption could fall…….

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