16
Dec
11:20
Steel futures continue to climb on declining inventory
Although demand has been slowly declining as expected by the market, Chinese rebar and hot rolled coil futures kept rising on Thursday thanks to long-term demand rebound expectations, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 88/tonne higher than Wednesday at CNY 4,529/t ($711/t), while the same contract for HRC closed up CNY 110/t at CNY 4,719/t.
HRC inventories went from increasing to declining this week, but reba…
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Anonymous
Very good overview of the weekly steel market.
Anonymous