23
Feb
08:26
Ferrous futures fall back from new highs
After touching new highs on Monday, Chinese rebar and hot rolled coil futures fell back on Tuesday. Greater risk aversion weakened the upward momentum, Kallanish notes.
On 23 February on the Shanghai Futures Exchange, May 2021 rebar futures closed CNY 30/tonne lower than last Friday at CNY 4,552/t ($705/t). The same contract for HRC closed down CNY 23/t at CNY 4,799/t.
Although demand expectations are still strong, market sentiment has become more cauti…
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Anonymous
Very good overview of the weekly steel market.
Anonymous