01
Apr
11:42
Steel futures soar as inventory decline accelerates
Chinese rebar and hot rolled coil futures soared on Thursday as total inventory levels have declined more rapidly in the past week. The US stimulus bill and China’s capacity inspections helped to push up steel prices, Kallanish notes.
On 1 April on the Shanghai Futures Exchange, May 2021 rebar futures closed CNY 68/tonne higher than Wednesday at CNY 5,003/t ($761/t), hitting their highest level since 2011. The same contract for HRC closed up CNY 84/t at CNY …
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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