29
Jul
13:38
Export tax omission boosts steel futures, inventories stabilise
China’s decision not to impose an export tax on steel products traded on Chinese futures exchanges resulted in Chinese rebar and hot rolled coil futures firming on Thursday, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 95/tonne higher than Wednesday at CNY 5,753/t ($891/t), and the same contract for HRC closed up CNY 225/t at CNY 6,104/t.
Contrary to market expectations, the Ministry of Finance only cancelled expor…
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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