06
Dec
11:37
Chinese rebar slumps on oversupply
Chinese rebar prices fell sharply last week amid rising inventories and falling demand, Kallanish notes.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,800-3,820/tonne ($540-543/t), down CNY 180/t from the previous Friday. On the Shanghai Futures Exchange, meanwhile, the rebar contract for May 2020 closed at CNY 3,437/t, CNY 10/t higher from the last Friday and CNY 33/t higher than Thursday.
The spot…
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Anonymous
Very good overview of the weekly steel market.
Anonymous