16
Jun
11:05
Shrinking demand suppresses steel futures
Transaction levels remained weak in spot steel markets on Wednesday, pushing rebar inventories higher and suppressing Chinese rebar and hot rolled coil futures prices, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 154/tonne lower than Tuesday at CNY 5,014/t ($784/t), and the same contract for HRC closed down CNY 156/t at CNY 5,280/t.
Rebar and HRC have both seen inventory levels increase this week, while HR…
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Anonymous
Very good overview of the weekly steel market.
Anonymous