SHANGHAI, Aug. 8 (SMM) - Rumor has it the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) held a meeting on August 7 and required all state-owned steel companies to suspend trade financing business.
Rebar prices have been surging recently. But If the news proves true, rebar prices will be weighed down, SMM said.
Besides, base metals, which have been boosted by rebar recently, will be also dragged down, SMM added.
The Ministry of Industry & Information Technology, and National Development Reform Commission will reportedly meet August 9 to discuss recent surge in SHFE rebar prices.
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