14
Dec
08:58
Steel futures climb again on easing US inflation
Easing US inflation started to push up Chinese rebar and hot rolled coil futures from Tuesday night into Wednesday, but the spot market was hesitant to follow up immediately as demand failed to support, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 49/tonne higher than Tuesday at CNY 3,986/t ($564/t), while the same contract for HRC gained CNY 37/t to CNY 4,069/t.
The US announced a…
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Anonymous
Very good overview of the weekly steel market.
Anonymous