18
May
11:15
Ferrous futures stay put as consumption trends diverge
Chinese rebar and hot rolled coil futures stayed put again on Thursday as weekly consumption performed within market expectations, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 28/tonne lower than Wednesday at CNY 3,687/t ($524/t), while the same contract for HRC lost CNY 14/t to CNY 3,761/t.
Overall inventories of rebar slowed their decline in the past week while HRC inventories…
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Anonymous
Very good overview of the weekly steel market.
Anonymous