17
Jan
09:57
Steel futures dive despite GDP growth announcement
Shorts were active on Wednesday, causing the volatile Chinese rebar and hot rolled coil futures to dive, despite China reporting a 5.2% on-year increase in 2023 GDP, Kallanish notes.
On the Shanghai Futures Exchange (SHFE), the most-traded May 2024 rebar contract closed at CNY 3,858/tonne ($538/t) on Wednesday, down CNY 41/t on the prior trading day. The same contract for HRC lost CNY 36/t to CNY 3,993/t.
The Nati…
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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