07
Jul
15:55
Steel futures inch higher amid production cuts hearsay
The news and rumours about reducing crude steel output still dominated the market on Wednesday. As a result, Chinese rebar and hot rolled coil futures rose for the third consecutive day this week and touched a high since mid-May, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 135/tonne higher than Tuesday at CNY 5,439/t ($842/t), and the same contract for HRC closed up CNY 164/t at CNY 5,768/t.
The initial production cuts …
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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