Yesterday Federal Reserve raised the interest rate by 0.75% which has returned optimism to China’s market trade today

Yesterday's move by the Federal Reserve to raise the interest rate by 0.75% has returned optimism to China's market trade today. The price of steel chain products in the Chinese futures market showed good growth today, with the price of iron ore increasing by about 5%, and the price of rebar and hot plate by more than 3%. Currently, the price premium of rebar futures is around 70 yuan compared to the physical Shanghai market. This indicates that the outlook for the future of steel demand in China is improving.

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