09
Feb
11:51
Macro price controls suppress steel futures
Chinese authorities have begun to put significant pressure on the market to resist any increase in iron ore and coal prices. This, in turn, suppressed Chinese rebar and hot rolled coil futures on Wednesday, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 69/tonne lower than Tuesday at CNY 4,843/t ($761/t), and the same contract for HRC closed down CNY 81/t at CNY 4,980/t.
The National Development and Reform Comm…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
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