11
May
13:47
Steel futures slump to year-to-date lows
Chinese rebar and hot rolled coil futures slumped on Thursday, hitting new year-to-date lows, despite rebar inventories declining significantly in the past week, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 88/tonne lower than Wednesday at CNY 3,600/t ($519/t), and the same contract for HRC lost CNY 107/t to CNY 3,653/t.
Weekly production of both rebar and HRC continued to fall,…
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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