18
Jul
13:47
Steel futures rebound as bears leave
The closing of short positions drove a rebound in Chines rebar and hot rolled coil futures on Monday, while HRC was again higher than rebar, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 191/t higher than Friday at CNY 3,780/t ($561/t), and the same contract for HRC closed up CNY 209/t at CNY 3,785/t.
The unwinding of some short positions had already started on Friday night, so spot m…
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Anonymous
Very good overview of the weekly steel market.
Anonymous