Shanghai steel futures surged by their 5 per cent limit on Friday after state-run media said China has approved infrastructure projects to revive a slowing economy, raising hopes for a recovery in steel demand.The most-traded rebar contract for January delivery on the Shanghai Futures Exchange was up 3.8 per cent at 3,393 yuan a tonne by 0543 GMT, after hitting its upside limit of 3,406 yuan earlier.
via Business feed http://www.scmp.com/business/money/market-snapshot/article/1031550/shanghai-steel-futures-surge-5-cent-infrastructure
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