10
Aug
11:37
Steel futures rebound on Tangshan restrictions
Chinese rebar and hot rolled coil futures rebounded on Tuesday as supply was expected to decline. A rumoured special set of output restrictions in Tangshan for early next year is materialising. However, the draft policy is subject to government approval, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 107/tonne higher than Monday at CNY 5,437/t ($839/t), and the same contract for HRC closed up CNY 110/t at CNY 5,856/t.
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Anonymous
Very good overview of the weekly steel market.
Anonymous