11
Jul
12:53
Steel futures dip again on rising bearishness
Chinese rebar and hot rolled coil futures fell again on Monday as bearishness spread, with intraday trading hitting eight-month lows, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 147/tonne ($21.89/t) lower than Friday at CNY 4,049/t, and the same contract for HRC closed down CNY 157/t at CNY 4,049/t.
Strong US non-farm payroll data for June reaffirmed expectations for a 75-basis point rate hike in …
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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