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08 Apr
11:15

Steel futures drop slightly in quieter market

Chinese rebar and hot rolled coil pulled back on Thursday. Fundamentals did not change significantly, but deal volumes began to be hit by high prices and futures corrected downwards, Kallanish notes. On 8 April on the Shanghai Futures Exchange, October 2021 rebar futures closed CNY 2/tonne lower than Wednesday at CNY 5,115/t ($781/t). The October 2021 contract for HRC closed down CNY 37/t at CNY 5,490/t. Because the decline…
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