18
Nov
00:00
Steel and iron ore prices fall sharply
Chinese rebar futures prices dropped sharply on Tuesday to new lows and iron ore prices followed quickly, veering dangerously close to the $70/tonne mark. Weak housing data, rising port inventories and the realisation that hope for a winter boost to prices is rapidly fading triggered the sell-off, Kallanish notes.
The January 2015 rebar contract on the Shanghai Futures Exchange plummeted Yuan 77/t, or 3.06%, to close at Yuan 2,442/t ($398/t), while the Janua…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous