Steel futures in China fell as industrial production growth was slower than expected and cooling down construction activity in the country put pressure on prices.
In July, industrial production in China grew by 6.4% year on year, slower than in June and 7.8% more than expected.
Real estate investments in the country also grew slowly in the January-July period, while new construction starts decreased by 0.9% year-on-year in the first seven months.
On the Shanghai Futures Exchange, rebar for January 2022 delivery fell 2.8% to 5,290 yuan/t ($817), its lowest level since August 4. The contract was down 1.8% at 5,344 yuan/t at 06:30 CEST.
Hot rolled coil fell 0.4% to 5,725 yuan/t. Stainless steel fell 0.8%.
On the Dalian Commodity Exchange, iron ore rose 1.8 percent to 847 yuan/tonne.
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