Chinese steel prices hit by inflation fears

Nov 17, 2010 | 12:49 PM |

Steel rebar futures fell Wednesday amid heightened concern over the Chinese central government's tightening measures, although spot iron ore held steady.

Spot iron ore import tags remain in a range of $164 to $166 per tonne c.f.r. for 63.5-percent Indian fines.

"In a downtrend, iron ore prices always react slowly. Also, tight supply from India is giving steady support to prices," one Beijing-based trader said.....

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