Chinese steel rebar and hot-rolled coil futures traded in a tight range on Friday and posted weekly losses as COVID-19-related restrictions and heavy rains dented downstream demand. China has been trying to strengthen its economy hit by the COVID outbreak, rolling out measures to help small firms and stabilize jobs and relaxing controls in the property market. However, its strict lockdowns are expected to “continue to weigh on industrial activity, resulting in weaker demand for metals,” ANZ Research said in a note.Furthermore, heavy rains in southwest and southern China weighed on short-term construction material ... (full story)