27
Oct
11:04
Steel futures edge down despite falling inventory
Although inventories fell slightly over the past week, the slowdown in the rate of decline and insufficient demand kept Chinese rebar and hot rolled coil futures volatile at low levels on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2023 rebar contract closed CNY 17/tonne lower than Wednesday at CNY 3,563/t ($498/t), while the same contract for HRC lost CNY 13/t to CNY 3,614/t.
Both rebar and HRC invento…
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Anonymous
Very good overview of the weekly steel market.
Anonymous