10
Nov
13:25
Steel futures slip despite falling inventory
Although weekly inventories continued to fall along with production, demand was dropping in tandem. Chinese rebar and hot rolled coil futures thus slipped on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2023 rebar contract closed CNY 52/tonne lower than Wednesday at CNY 3,538/t ($488/t), while the same contract for HRC lost CNY 59/t to CNY 3,627/t.
Mills expanded production cuts because of losses in the past week,…
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Anonymous
Very good overview of the weekly steel market.
Anonymous