20
Oct
08:43
Regulatory fears smash ferrous and coal-related futures
The National Development and Reform Commission (NDRC)’s announcement that it will intervene in coal pricing triggered panic in the market and a plunge in Chinese rebar and hot rolled coil futures on Wednesday, Kallanish notes.
On the Shanghai Futures Exchange, the January 2022 rebar contract closed CNY 242/tonne lower than Wednesday at CNY 5,304/t ($829/t), and the same contract for HRC closed down CNY 186/t at CNY 5,550/t.
For the interventi…
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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