10
Jul
10:28
Steel futures remain weak despite ongoing production cuts
Despite ongoing steel production cuts in Tangshan, Chinese rebar and hot rolled coil futures dived further on Monday as expectations for demand and stimulus policies dimmed, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 17/tonne lower than Friday at CNY 3,654/t ($505/t), while the same contract for HRC lost CNY 9/t to CNY 3,757/t.
Current production restrictions in…
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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