04
May
09:33
Rebar, HRC futures see spread narrow sharply
Chinese rebar and hot rolled coil futures dropped further on the first trading day after the Labour Day holidays due to higher US interest rates and rising steel inventories. The spread between them narrowed sharply because of varying inventory drawdown, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 45/tonne lower than 28 April, the previous trading day, at CNY 3,660/t ($529/t), and&nb…
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Anonymous
Very good overview of the weekly steel market.
Anonymous