22
Jul
10:37
Steel futures near 2024 lows despite LPR cuts
The steel market has not bought into the reform plan approved by China’s Third Plenary Session of the 20th CPC Central Committee and the reduction in five-year loan prime rate (LPR). On Monday, Chinese rebar and hot rolled coil futures dived deeper and now are just slightly higher than the year-to-date lows registered on 29 March, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2024 rebar contract closed at CNY 3,451…
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Anonymous
Very good overview of the weekly steel market.
Anonymous