26
Nov
13:05
Chinese HRC diverges despite domestic rebound
Stimulated by large-scale production cuts in Tangshan and falling inventories, Chinese hot rolled coil prices rebounded slightly last week, Kallanish notes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 4,740-4,770/tonne ($742-746/t), up CNY 70/t from the previous Friday. On the Shanghai Futures Exchange, meanwhile, the January 2022 contract for HRC futures closed CNY 63/t lower than Thursday but up CNY 79/…
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Anonymous
Very good overview of the weekly steel market.
Anonymous