14
Feb
10:04
Steel futures dive on iron ore drop
Chinese iron ore futures collapsed on Monday due to the upcoming investigations into price drivers by the National Development and Reform Commission (NDRC), which in turn dragged down rebar and hot rolled coil futures, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 88/tonne lower than Friday at CNY 4,817/t ($758/t), and the same contract for HRC closed down CNY 105/t at CNY 4,928/t.
As the NDRC begins to announce concret…
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Anonymous
Very good overview of the weekly steel market.
Anonymous