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Shanghai steel slips from six-month top, but losses capped

Reuters  |  MANILA 

By Manolo Serapio JrMANILA (Reuters) - Shanghai rebar futures pulled back on Friday, a day after hitting a six-month high, although worries over tighter supply in China at a time when demand remains firm kept losses in check.Data showing China's iron ore imports rose 13.5 percent from April to 94.14 million tonnes in May, underlining strong appetite from steel mills, helped pull iron ore prices off the day's lows.China has sent teams of inspectors to six regions, including the steelmaking hubs of Hebei and Jiangsu provinces, to review environmental violations that were found during the checks ...

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First Published: Fri, June 08 2018. 13:19 IST