13
Jun
09:00
Steel futures hike on rate cut expectations
Chinese rebar and hot rolled coil futures hiked on Tuesday on expectations that China will inject more liquidity into credit markets, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 89/tonne higher than Monday at CNY 3,741/t ($512/t), while the same contract for HRC lost CNY 85/t to CNY 3,7848/t.
On Tuesday, the People’s Bank of China saw a bid rate at 1.9% for a CN…
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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