07
Jun
12:50
Steel futures plunge on weak sentiment
China released steel trade data for May on Monday, which disappointed the market and saw Chinese rebar and hot rolled coil futures plunge, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 200/tonne lower than the previous Friday at CNY 4,959/t ($775/t), and the same contract for HRC closed down CNY 182/t at CNY 5,252/t.
Although exports in May were up on-year, they fell 33.86% on-month to 5.27 million tonnes d…
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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