04
Nov
11:22
Ferrous futures retreat as rebar inventory decline slows
Weak demand, as seen in inventory data, especially of rebar, has disappointed market sentiment. Chinese rebar and hot rolled coil futures fell back on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the January 2022 rebar contract closed CNY 159/tonne lower than Wednesday at CNY 4,226/t ($660/t), and the same contract for HRC closed down CNY 168/t at CNY 4,614/t.
Rebar’s overall inventories declined at a slower pace, while t…
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Anonymous
Very good overview of the weekly steel market.
Anonymous