10
Mar
12:00
Ferrous futures slide slowly as rebar inventory drops
Signs of negotiation in the Russian-Ukrainian war saw Chinese rebar and hot rolled coil futures start Wednesday night trading at lower prices, and end up falling slightly despite a gain on Thursday due to an overall decline in inventories, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 11/tonne lower than Wednesday at CNY 4,896/t ($774/t), and the same contract for HRC closed down CNY 14/t at CNY 5,107/t.
Although overal…
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Anonymous
Very good overview of the weekly steel market.
Anonymous