09
Dec
11:17
Steel futures keep falling on underperforming inventory
Although loose monetary policy supported the futures market at the beginning of this week, unimproved demand caused Chinese rebar and hot rolled coil futures to retreat for the second consecutive day on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 57/tonne lower than Wednesday at CNY 4,293/t ($676/t), while the same contract for HRC closed down CNY 85/t at CNY 4,443/t.
Steel mills tried to expand steel supply…
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Anonymous
Very good overview of the weekly steel market.
Anonymous