14
Oct
12:04
Steel futures correct higher on falling inventory
Although the short-term demand slump frustrated market confidence at the start of the week, declining inventory caused Chinese rebar and hot rolled coil futures to rebound after a sharp two-day drop, Kallanish notes.
On the Shanghai Futures Exchange, the January 2022 rebar contract closed CNY 44/tonne higher than Wednesday at CNY 5,465/t ($849/t), and the same contract for HRC closed up CNY 47/t at CNY 5,666/t.
Inventories of both rebar and HR…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
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