Chinese Steel Futures Tumble
World Economy

Chinese Steel Futures Tumble

Chinese steel futures fell more than 5% on Tuesday, extending a decline in the previous session as slower home sales spurred investors to take profits amid concerns about the world’s second-biggest economy, Business Recorder reported. China’s home price rises slowed in June for a second straight month, adding to fears that a construction-led economic rebound in the economy may be unsustainable, despite a big spike in new yuan loans in June. “The market is divided now. Some expect a big drop in home price rises will weigh on the steel sector, while some still hope that supply interruptions and low inventories will underpin prices,” said Zhao Chaoyue, an analyst with Merchant Futures in Shenzhen.


Short URL : http://goo.gl/uUZw03
  1. http://goo.gl/NKAYjL
  • http://goo.gl/wDERdA
  • http://goo.gl/RxRYCI
  • http://goo.gl/2sxkSP
  • http://goo.gl/aeZMZ2

You can also read ...

The S&P Mumbai Stock Index Sensex shed 73.88 points or 0.21% and closed at 35,548.26 while the Nifty50 index dropped by  17.85 points or 0.17% and settled at 10,799.85.
It is expected that the latest installment of concerns over...
Markets in Argentina, Brazil and Turkey took  the biggest hits from the fed rate hike.
Higher US rates are rattling many emerging markets in much the...
New Zealand Economy Facing Headwinds
New Zealand’s economic growth is expected to have slowed...
JPMorgan argues the record levels of debt in the US are a clear late-cycle indicator—and sees tough times ahead, at least in credit markets.
It seems like every time Joseph Harvey opens the Wall Street...
Copper Slips to 2-Week Low
Copper eased for a third session on Monday on fears trade...
Without users, it would simply be a worthless token.
Cryptocurrencies are not scalable and are more likely to...
Egyptian Lawmakers Decry Sisi Gov’t Economic Reforms
A group of Egyptian lawmakers on Sunday criticized recent...
Turkey Jobless Rate Falls to 10.1%
Turkey’s unemployment rate stood at 10.1% in March, falling 1....