29
Apr
12:09
Steel futures hit new highs, inventory trends diverge
The cancellation of export tax rebates for Chinese rebar and hot rolled coil announced on Wednesday evening failed to suppress futures on Thursday, as the move was in line with market expectations. HRC futures kept rising but inventories are showing signs of picking up, Kallanish notes.
On 29 April on the Shanghai Futures Exchange, October 2021 rebar futures closed CNY 94/tonne higher than Wednesday at CNY 5,452/t ($843/t), and the same contrac…
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Anonymous
Very good overview of the weekly steel market.
Anonymous