18
Feb
10:05
Chinese rebar drops on iron ore price control
The Chinese government's crackdown on iron ore prices caused the steel market to languish last week. Market confidence was not restored until Friday's improvement in end-user demand, Kallanish notes.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 4,680-4,700/tonne ($740-743/t), down CNY 120/t from a week earlier. On the Shanghai Futures Exchange on the same day, the May 2022 rebar contract closed at CNY 4,779/t, up by&…
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Anonymous
Very good overview of the weekly steel market.
Anonymous