23
Sep
17:13
Iron ore slumps despite stable steel futures
Seaborne iron ore prices slumped further on Wednesday, hitting the lowest level in two months. Steel prices have steadied but spot markets remain quiet ahead of the October holidays.
On the Shanghai Futures Exchange the January 2021 rebar contract closed CNY 5/tonne higher than Tuesday at CNY 3,542/t ($520/t), while the same contract for hot rolled coil closed up CNY 14/t at CNY 3,666/t. In Tangshan, billet prices rebounded CNY 10/t to CNY 3,330/t.
The Kallanish …
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous