19
Oct
10:20
Steel futures rebound on production cuts
As Shagang started on Tuesday evening to lead a new round of production cuts forced by electricity shortages, Chinese rebar and hot rolled coil futures were driven higher on the expected decline in supply, Kallanish notes.
On the Shanghai Futures Exchange, the January 2022 rebar contract closed CNY 93/tonne higher than Monday at CNY 5,546/t ($866/t), and the same contract for HRC closed up CNY 58/t at CNY 5,736/t.
Shagang has announced major p…
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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