09
May
12:16
Steel futures plummet on overall pessimism
Pessimism continued on Monday and pushed Chinese rebar and hot rolled coil futures to fall. However, more short-selling traders have been closing out their positions after securing profits over recent days, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 80/tonne lower than Friday at CNY 4,654/t ($692/t), and the same contract for HRC closed down CNY 82/t at CNY 4,748/t.
Continuous rising production and su…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous