13
Apr
11:13
Ferrous futures weaken on lacklustre inventory drawdown
Chinese rebar and hot rolled coil futures dropped further on Thursday as weekly apparent consumption was lacklustre, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 14/tonne lower than Wednesday at CNY 3,886/t ($565/t), and the same contract for HRC lost CNY 40/t to CNY 3,957/t.
In the past week, overall rebar inventories continued to decline slowly but implied apparent consumption…
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Anonymous
Very good overview of the weekly steel market.
Anonymous