29
Sep
12:53
Steel futures growth slows as output cuts continue
As bullish sentiment has retreated and buyers have begun to wait and see before the long October holiday, Chinese rebar and hot rolled coil futures hikes slowed down on Wednesday. Expectations for firm prices are still being bolstered by the ongoing decline in production amid widespread power outages, Kallanish notes.
On the Shanghai Futures Exchange, the January 2022 rebar contract closed CNY 23/tonne higher than Tuesday at CNY 5,657/t ($874/t), but the same…
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Anonymous
Very good overview of the weekly steel market.
Anonymous