30
Jan
07:58
Steel futures dive on sluggish demand
As market sentiment calmed down without no further stimulus, Chinese rebar and hot rolled coil finally slumped on Tuesday on sluggish demand. The daily decline in steel futures was the largest in the past fortnight, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2024 rebar contract closed at CNY 3,913/tonne ($548/t) on Tuesday, down just CNY 55/t on the prior trading day. The same contract for HRC los…
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Anonymous
Very good overview of the weekly steel market.
Anonymous