27
Sep
13:33
Further electricity curtailment stimulates steel futures
Due to severe power curtailments in further areas around China, rebar and hot rolled coil futures gained ground on Monday. Power cuts are expected to further restrict production over the coming weeks, Kallanish notes.
On the Shanghai Futures Exchange the January 2022 rebar contract closed CNY 96/tonne higher than Friday at CNY 5,564/t ($861/t), and the same contract for HRC closed up CNY 81/t at CNY 5,592/t.
Over the weekend and Monday, power outages for cit…
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Anonymous
Very good overview of the weekly steel market.
Anonymous