02
Feb
07:54
Steel futures drop further on rising inventory
Chinese rebar and hot rolled coil futures recorded their third consecutive day of losses on Thursday as steel inventories kept rising sharply after the long holidays, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 42/tonne lower than Wednesday at CNY 4,042/t ($601/t), while the same contract for HRC lost CNY 35/t to CNY 4,057/t.
Although the rate has slowed, overall domestic…
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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