24
Oct
10:43
Steel futures bottom out on bond speculation
Chinese rebar and hot rolled coil futures increased at the end of Tuesday’s trading and finally bottomed out. Price rises were due to rumours of new debt issuance, which proved true, and the subsequent withdrawal of rebar short orders , Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2024 rebar contract closed CNY 58/t higher than Monday at CNY 3,630/t ($497/t), and the same contract for HRC gained CNY 48/t…
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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