14
Aug
09:15
Steel futures dive further on macro weakness
China’s financial markets were in turmoil as poor economic data and a brewing debt crisis in the real estate sector hit sentiment. Coupled with weak demand, Chinese rebar and hot rolled coil futures fell again on Monday, touching the lowest levels in nearly two and one months respectively, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract ended Monday at CNY 3,641/tonne ($503/t), down CNY 50/t on th…
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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