11
May
11:56
Steel futures break historical records again
Chinese rebar and hot rolled coil futures slowed their growth on Tuesday, but still broke the historical records set on Monday. Market participants are worried about the risk of a correction as prices are far beyond market fundamentals, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 74/tonne higher than Monday at CNY 6,086/t ($947/t), while the same contract for HRC closed up CNY 205/t at CNY 6,540/t.
A new round of capaci…
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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