11
Jan
07:33
Steel futures rebound as inventory hikes
Chinese rebar and hot rolled coil futures finally rebounded on Thursday after five consecutive trading days of decline. However, the combined inventories of five major steel products as a whole rose for the fifth week in a row, Kallanish notes.
On the Shanghai Futures Exchange (SHFE), the most-traded May 2024 rebar contract closed at CNY 3,926/tonne ($550/t) on Thursday, up CNY 39/t on the prior trading day. The same contra…
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Anonymous
Very good overview of the weekly steel market.
Anonymous