20
May
12:13
State Council meeting spooks steel futures
Chinese rebar and hot rolled coil futures slumped again on Thursday after the previous day’s meeting of the State Council stated a stronger willingness to strengthen regulation of prices. The slowdown in demand due to wet weather, meanwhile, has left fundamentals unable to support high prices, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 123/tonne lower than Wednesday at CNY 5,186/t ($805/t), while the same contract…
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Anonymous
Very good overview of the weekly steel market.
Anonymous