16
Jan
11:45
Steel futures trend down on iron ore panic
The gradual retreat in Chinese rebar and hot rolled coil futures was driven by bulls aggressively unwinding positions on Monday after taking a macro shock on iron ore over the weekend, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 80/tonne lower than Friday at CNY 4,093/t ($608/t), while the same contract for HRC lost CNY 69/t to CNY 4,133/t.
The National Development and Re…
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Anonymous
Very good overview of the weekly steel market.
Anonymous