09
Jul
12:26
Chinese HRC surges on probable steel production cuts
Expectations of reduced Chinese crude steel production in the second half of the year boosted futures and spot markets last week, Kallanish notes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 hot rolled coil was traded at around CNY 5,720-5,740/tonne ($882-885/t), up CNY 260/t from the previous Friday. On the Shanghai Futures Exchange, October 2021 HRC futures closed CNY 45/t higher than Thursday and CNY 377/t higher than the pre…
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Anonymous
Very good overview of the weekly steel market.
Anonymous