28
Feb
12:36
Steel futures bottom out with cost support
After hitting lows in line with moves in raw materials markets, Chinese rebar and hot rolled coil futures registered rebounds on Monday as bearish sentiment eased, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 76/tonne higher than Friday at CNY 4,693/t ($744/t), and the same contract for HRC closed up CNY 156/t at CNY 4,952/t.
Although spot markets performed better and boosted sentiment to a certain extent, demand from …
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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