17
Feb
09:58
Steel futures fall on high inventory levels
Impacted by iron ore prices, Chinese rebar and hot rolled coil futures retreated again on Thursday due to falling costs, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 146/tonne lower than Wednesday at CNY 4,686/t ($739/t), and the same contract for HRC closed down CNY 116/t at CNY 4,823/t.
Over the past week, inventory kept rising and disappointed the market as this indictes overall demand was still sluggish two weeks a…
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Anonymous
Very good overview of the weekly steel market.
Anonymous