09
Sep
11:52
Steel futures jump but Baosteel cuts HRC
Chinese steel futures prices gained sharply on Monday on the back of the reserve requirement ratio cut late Friday. Baosteel, however, showed limited confidence in the future market by cutting its October hot rolled coil price, Kallanish notes.
On the Shanghai Futures Exchange the January 2020 rebar contract closed CNY 110/tonne higher than Friday at CNY 3,497/t ($491/t), while the same contract for HRC closed up CNY 136/t at CNY 3,528/t.
Baosteel, …
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Anonymous
Very good overview of the weekly steel market.
Anonymous