08
Mar
11:06
Steel futures fall back for stability
Chinese rebar and hot rolled coil futures fell back on Tuesday, after touching four-month highs one day earlier, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 138/tonne lower than Monday at CNY 4,956/t ($785/t), and the same contract for HRC closed down CNY 160/t at CNY 5,220/t.
A large number of funds quickly left the market on Tuesday after taking profits, and prices are deemed to have separated from fundame…
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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