12
May
10:40
China's rebar drops on production resumption
China's steel market has been at a low point in the past week due to weak demand. Market sentiment is generally very pessimistic.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,490-3,500/tonne ($502-503/t), down by CNY 55/t on-week. The October 2023 rebar contract on the Shanghai Futures Exchange closed at CNY 3,579/t, down by CNY 21/t compared with Thursday and CNY 43/t from the week before.
Market participants ar…
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Anonymous
Very good overview of the weekly steel market.
Anonymous