Shanghai futures exchange steel rebar contracts slid 0

Shanghai Futures Exchange steel rebar contracts slid 0.4% to 3,735 CNY/ton today, dragged by weaker construction activity data. Sector analysts expect a demand rebound toward late summer if infrastructure spending accelerates, with resistance forming at 3,800 levels. Nearly eight in 10 Americans want Congress to renew enhanced Affordable Care Act tax credits set to expire at year-end, even as lawmakers clash over federal spending, a new Kaiser Family Foundation (KFF) poll said on Friday. Over the past year, the SHFE has focused on building a “diversified and innovative” product portfolio. Highlights include launching options contracts for lead, nickel, tin, and alumina; piloting group delivery centers for crude oil and other commodities; expanding registration for more steel brands; and authorizing the Osaka Exchange -- Japan’s largest derivatives exchange -- to use Chinese natural rubber futures settlement prices for its domestic producers. Additionally, the SHFE has launched a next-generation trading system and opened its non-ferrous metals data system to a wider market. Shanghai Futures Exchange asphalt futures climbed to 3,810 CNY/ton, tracking construction activity growth. Traders suggest monitoring public infrastructure project announcements for momentum shifts.