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China Ferrous Metals Gather Rising Strength on Positive Factors

iconAug 17, 2017 11:40
Source:SMM
Futures prices of ferrous metals in China’s market gained rising momentum on Thursday. 

SHANGHAI, Aug. 17 (SMM) – Futures prices of ferrous metals in China’s market gained rising momentum on Thursday. 

SMM attributes the rise to mainly two factors. 

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First, technical rally is available after a 5-day correction on the SHFE rebar futures market. Second, the surge in LME base metals market, getting support from supply-side reform, also pushed up ferrous metals prices. 

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