21
Oct
10:05
Steel futures slump while inventory falls
The continued decline in coal-related futures was still hitting market sentiment on Thursday. Coupled with the decline in weekly steel demand, the drop in Chinese rebar and hot rolled coil futures accelerated on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the January 2022 rebar contract closed CNY 328/tonne lower than Wednesday at CNY 4,976/t ($778/t), and the same contract for HRC closed down CNY 282/t at CNY 5,268/t.
The decline …
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous