04
Feb
12:40
Ferrous futures increase, ignoring inventory build
Chinese rebar and hot rolled coil futures kept rebounding on Thursday, erasing the decline from earlier in the week. Inventories have accelerated their growth, but the expected demand recovery after the Chinese New Year holiday has given the market confidence, Kallanish notes.
On 4 February on the Shanghai Futures Exchange, May 2021 rebar futures closed CNY 71/tonne higher than Wednesday at CNY 4,246/t ($657/t), while the same contract for…
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Anonymous
Very good overview of the weekly steel market.
Anonymous