24
May
09:01
Steel futures slump to seven-month lows
Chinese rebar and hot rolled coil futures accelerated their declines on Wednesday as the steel demand outlook weakened and raw materials kept falling, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 179/tonne lower than Tuesday at CNY 3,466/t ($491/t), while the same contract for HRC lost CNY 171/t to CNY 3,551/t.
Raw materials such as iron ore kept falling for the fifth consecutiv…
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