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  • July steel prices post biggest monthly gain

    China - 2009 August 2

    Benchmark Chinese steel prices jumped 10 percent in the past month, the biggest monthly rally in more than three years, as the government’s stimulus spending spurred demand.

    Prices of hot-rolled coil jumped to 4,180 yuan ($612) a metric ton today, the highest since Oct. 9, 2008, according to the Beijing Antaike Information Development Co. The 10 percent monthly gain is the most since March 2006.

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