12
Apr
10:14
Ferrous futures decline triggers willingness to cut production
Chinese rebar and hot rolled coil futures fell again on Wednesday due to concerns over end user demand. Rebar futures touched four-month lows again after Monday and HRC futures set a new low for the year, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 37/tonne lower than Tuesday at CNY 3,900/t ($567/t), and the same contract for HRC lost CNY 32/t to CNY 3,997/t.
Concerns over slug…
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Anonymous
Very good overview of the weekly steel market.
Anonymous