16
Jun
11:49
China's rebar extends gains
China's construction steel market remained strong last week. Bank interest rate cuts and lower May crude steel output boosted market sentiment.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,650-3,670/tonne ($513-516/t), up by CNY 70/t on-week, Kallanish assesses. The October 2023 rebar contract on the Shanghai Futures Exchange closed at CNY 3,799/t, up by CNY 39/t compared with Thursday and CNY 88/t higher from the week…
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Anonymous
Very good overview of the weekly steel market.
Anonymous