02
Nov
11:30
Steel futures expand decline as iron ore collapses
Triggered by a slump in iron ore futures (see separate article), Chinese rebar and hot rolled coil futures expanded their decline on Tuesday on lack of cost support, Kallanish notes.
On the Shanghai Futures Exchange, the January 2022 rebar contract closed CNY 279/tonne lower than Tuesday at CNY 4,230/t ($661/t), and the same contract for HRC closed down CNY 225/t at CNY 4,601/t.
The continued high inventory of imported iron ore and weak c…
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Anonymous
Very good overview of the weekly steel market.
Anonymous