07
Sep
13:18
Steel futures drop on cooling pre-holiday demand
Chinese rebar and hot rolled coil futures fell slightly on Wednesday, and market hype about demand for restocking before the Mid-Autumn Festival holiday went unrealised, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2023 rebar contract closed CNY 20/t lower than Tuesday at CNY 3,673/tonne ($536/t), while the same contract for HRC lost CNY 8/t on-day to CNY 3,761/t.
Suppliers and buyers in the spot market were in a standoff, …
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Anonymous
Very good overview of the weekly steel market.
Anonymous