13
May
11:13
Steel futures plummet on macro fears
Both China and United States macroeconomic data have helped puncture market confidence, that was already panicked because of high prices. As a result, Chinese rebar and hot rolled coil futures plummeted on Thursday, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 256/tonne lower than Wednesday at CNY 5,915/t ($917/t), while the same contract for HRC closed down CNY 245/t at CNY 6,438/t.
The US has released the highest …
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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