24
Feb
08:40
Futures rally amid Tangshan restrictions, rebar hits record
Chinese rebar and hot rolled coil futures continued to rise on Wednesday after a one-day blip. Tangshan City initiated restrictions in response to heavy pollution, forcing steel mills to limit output, Kallanish notes.
On 24 February on the Shanghai Futures Exchange, May 2021 rebar futures closed CNY 66/tonne higher than Tuesday at CNY 4,618/t ($715/t), their highest level since 2012. The same contract for HRC closed up CNY 17/t at CNY 4,816/t.
Tangshan …
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Anonymous
Very good overview of the weekly steel market.
Anonymous