28
Apr
13:30
Steel futures correct lower without further bullish factors
Chinese rebar and hot rolled coil futures corrected lower on Wednesday as there were no more bullish factors to support the high prices, Kallanish notes.
On 28 April on the Shanghai Futures Exchange, October 2021 rebar futures closed CNY 53/tonne lower than Tuesday at CNY 5,358/t ($826/t), and the same contract for HRC closed down CNY 61/t at CNY 5,691/t.
HRC production has been trending higher, but higher overseas prices support market s…
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Anonymous
Very good overview of the weekly steel market.
Anonymous