06
Apr
10:58
Ferrous futures dive deeper despite falling inventory
Although inventories continued to fall in the past week amid higher production, Chinese rebar and hot rolled coil futures continued to fall on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 37/tonne ($5.38/t) lower than Tuesday, the previous trading day, at CNY 3,938/t ($573/t), while the same contract for HRC lost CNY 37/t to CNY 4,015/t.
Falling inventory failed to push up …
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Anonymous
Very good overview of the weekly steel market.
Anonymous