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[QUOTE="SOLIDECN, post: 229261, member: 80239"]
[HEADING=1]Rebar Futures Rise Amid Beijing's Expected Aid[/HEADING]
[JUSTIFY]Solid ECN - Steel rebar futures have been climbing, approaching the CNY 3,900 per ton mark. This increase comes after a two-week low of CNY 3,850 on January 18th. The market is reacting to the possibility of economic support from the Chinese government, which could boost demand for steel used in construction and manufacturing.

There's growing optimism that a significant aid package from Beijing might lessen fears about decreasing demand in these sectors. However, economic challenges, especially a drop in property purchases, have significantly reduced major Chinese steel producers' output. In December, steel production in China fell to its lowest in six years, dropping 15% annually and 11% monthly to 67.44 million tonnes. Despite the price recovery, the absence of purchases has caused rebar stocks in central Chinese warehouses to skyrocket more than five times to 112 thousand tonnes.[/JUSTIFY]
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