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China hot rolled coils, rebar fall on easing worries over supply curbs


By Reuters Staff
2 Min Read
BEIJING, May 19 (Reuters) - Chinese hot rolled coils and rebar futures fell more than 4% on Wednesday as concerns over steel output cuts eased and construction activities are expected to slow in the coming rainy season.
The most-traded hot rolled coils on the Shanghai Futures Exchange, used in the manufacturing sector, dropped 4.7% to 5,706 yuan ($887.73) a tonne by 0330 GMT, the lowest since April 30.
Construction-used steel rebar, for October delivery, declined 4.4% to 5,376 yuan a tonne.
“While there is no further policy on curtailing (steel) production, trading has shifted from expectations to reality,” GF Futures wrote in a note. ....

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