Shanghai steel futures fell more than 1 percent to a record low on Thursday, pressured by
shrinking demand in top consumer China that has dented appetite for raw material iron ore.
Construction-used rebar for May delivery on the Shanghai Futures Exchange was down 1.2 percent at 1,763 yuan ($277) a tonne by midday after falling as far as 1,760 yuan.
That was the lowest for a most-active contract since the bourse launched rebar futures, six years ago.
On the Dalian Commodity Exchange, January iron ore slipped 0.3 percent to 346 yuan a tonne.
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