10
Aug
08:16
Steel futures return to falling as inventory hikes
Chinese rebar and hot rolled coil futures returned to falling on Thursday after just one day of stability following continuous declines, Kallanish notes. Hiking inventory over the past week reflects weak demand in summer.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract ended Thursday at CNY 3,671/tonne ($509.5/t), down CNY 29/t on the prior day. The same contract for HRC lost CNY 43/t to CNY 3,921/t.
A furthe…
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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