28
Jul
10:11
Steel futures settle higher on shrinking inventory
Thanks to a drop in inventories representing improved demand and realisation of higher US interest rates, Chinese rebar and hot rolled coil futures on Thursday continued to climb and successfully wiped out their two sharp falls since June, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 142/t higher than Wednesday at CNY 4,058/t ($602/t), and the same contract for HRC closed down CNY 145…
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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