10
Jun
13:58
Steel futures rise despite inventory increases
Chinese rebar and hot rolled coil futures inched up for the third consecutive day on Thursday as rumours spread about further production restrictions. This was despite a downward trend in demand into the summer, which has caused inventories to begin to accumulate, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed CNY 133/tonne higher than Wednesday at CNY 5,168/t ($810/t), while the same contract for HRC closed up CNY 82/t at…
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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