11
Apr
15:06
Chinese ex-works steel prices decline, pressuring futures
Chinese steel futures prices dropped further on Tuesday as mills announced price cuts. Shagang cut its short term rebar prices, while Baosteel cut its May flats prices, Kallanish notes.
The Shanghai Futures Exchange saw October rebar futures close at CNY 2,982/tonne ($432/t), down another CNY 39/t, while the same contract for hot rolled coil closed down CNY 48/t at CNY 3,030/t.
Shagang said Tuesday that it has cut its ex-works longs prices for 11-20 Apri…
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Anonymous
Very good overview of the weekly steel market.
Anonymous