11
May
13:59
Steel futures fluctuate higher as pessimism hovers
Chinese rebar and hot rolled coil futures fluctuated higher on Wednesday due to the closure of some short-selling positions after rapid declines in recent days. Market sentiment however has not improved, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 74/tonne higher than Tuesday at CNY 4,681/t ($685/t), and the same contract for HRC closed up CNY 77/t at CNY 4,775/t.
Steel transactions in most spot market…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
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