Chinese steel futures drop amid subdued economic data


Source: uktimenews.com uktimenews.com

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BEIJING (Reuters) – Chinese steel futures fell on Monday, August 16, with rebar leading the declines after falling to a more than 10-day low as slower-than-expected growth in the industrial production and the cooling of construction activities in the country weighed on prices. China’s industrial production rose 6.4% in July from the same month a year earlier, according to data from the National Bureau of Statistics, failing market expectations of 7.8% growth and falling slowed after a 8.3% jump in June. The country’s real estate investment also grew at a slower pace in January-July compared to the first half of...