09
Mar
14:21
Ferrous futures crash as sentiment weakens
Chinese rebar and hot rolled coil futures crashed on Tuesday as investors sold long positions and the decline triggered stop loss orders. Tangshan also issued a first-class pollution red alert on Monday night, the first since 2017, Kallanish notes.
On 3 March on the Shanghai Futures Exchange, May 2021 rebar futures closed CNY 160/tonne lower than Monday at CNY 4,592/t ($705/t), and the same contract for HRC closed down CNY 144/t at CNY 4,820/t.
The first-cla…
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Anonymous
Very good overview of the weekly steel market.
Anonymous