08
Jul
16:11
Steel futures fall back as inventory keeps rising
Chinese rebar and hot rolled coil futures corrected lower on Thursday after a three-day increase, as there were no factors other than expected production cuts to push up them further. Raw materials also dropped due to declining demand, thereby weakening support for steel prices, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 46/tonne lower than Wednesday at CNY 5,393/t ($831/t), and the same contract for HRC closed down CNY…
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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