17
Aug
09:28
Steel futures diverge on inventory differences
Chinese rebar and hot rolled coil futures exited a V trend on Thursday due to the rise in apparent consumption reflected by falling steel inventories. This stimulated futures in the afternoon, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract ended Thursday at CNY 3,726/tonne ($510/t), up CNY 13/t on the prior day. The same contract for HRC lost CNY 2/t to CNY 3,924/t.
Rebar futures outper…
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Anonymous
Very good overview of the weekly steel market.
Anonymous