25
Oct
10:25
Steel futures hike further on treasury debt stimulus
China's decision to increase the deficit ratio have greatly boosted the market's short-term confidence. This continued to push up Wednesday's rebar and hot rolled coil futures to the highest level in October, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2024 rebar contract closed CNY 43/t higher than Tuesday at CNY 3,673/t ($502/t), and the same contract for HRC gained CNY 40/t to CNY 3,794/t.…
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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