18
Aug
11:36
Steel futures drop on rebar short selling
Bears entered the rebar futures market on Wednesday after judging that a recovery in sentiment had topped out. Iron ore has meanwhile continued to slide, removing cost support and resulting in a big drop in Chinese rebar and hot rolled coil futures, Kallanish notes.
On the Shanghai Futures Exchange the January 2022 rebar contract closed CNY 201/tonne lower than Tuesday at CNY 5,144/t ($794/t), and the same contract for HRC closed down CNY 188/t at CNY 5,…
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Anonymous
Very good overview of the weekly steel market.
Anonymous