27
Nov
00:00
Steel futures surge as iron ore finally bottoms out
Chinese steel futures prices spiked on Thursday on the belief that iron ore had finally found its bottom. A trade on the GlobalORE trading platform in the afternoon confirmed a return to just over $70/t, where sources believed there should be some support.
The May 2015 rebar contract on the Shanghai Futures Exchange surged Yuan 97/tonne on Thursday to close at Yuan 2,539/t ($413.5/t), while the January 2015 hot rolled coil contract on the same exchange gaine…
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Anonymous
Very good overview of the weekly steel market.
Anonymous