27
Jul
13:44
Steel futures fall under export tax pressure
Chinese rebar and hot rolled coil futures fell on Tuesday as rumours intensified that a new export tax could be effective as early as 1 August, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 74/tonne lower than Monday at CNY 5,613/t ($863/t), and the same contract for HRC closed down CNY 94/t at CNY 5,896/t.
According to some sources, an export tax of at least 15% is rumoured to be imposed on Chinese HRC from 1 A…
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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