26
Apr
11:10
Ferrous futures hit record highs on Tangshan restrictions
Market confidence has been supported by the restrictions in Tangshan issued over the weekend (see separate article) and expected purchases for restocking before the 1-5 May Labour Day holiday. As a result, Chinese rebar and hot rolled coil futures rose rapidly and hit record highs on Monday, Kallanish notes.
On 26 April on the Shanghai Futures Exchange, October 2021 rebar futures closed CNY 72/tonne higher than the previous Friday at CNY 5,371/t ($8…
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Anonymous
Very good overview of the weekly steel market.
Anonymous