06
Jan
10:44
Steel futures rise on slow inventory increase
The slower-than-expected increase in steel inventories has supported market sentiment, and wide-ranging coke price increases are pushing up steel costs. As a result, Chinese rebar and hot rolled coil futures continued to rise on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 50/tonne higher than Wednesday at CNY 4,494/t ($705/t), while the same contract for HRC closed up CNY 70/t at CNY 4,638/t.
Both rebar…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
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