15
Dec
12:53
Overseas demand, raw materials drive futures higher
Sentiment in the Chinese rebar and hot rolled coil futures markets was driven on Tuesday by a recovery in overseas demand and rising raw materials costs, Kallanish notes.
On the Shanghai Futures Exchange the May 2021 rebar contract closed on Tuesday CNY 85/tonne ($13) higher than Monday at CNY 4,073/t ($622/t), while the same contract for HRC closed up CNY 57/t at CNY 4,374/t. In Tangshan, billet prices were at CNY 3,650/t, up CNY 20/t.
Insufficient supply to me…
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Anonymous
Very good overview of the weekly steel market.
Anonymous