25
Nov
10:49
Steel futures stabilise as inventory registers limited decline
Chinese rebar and hot rolled coil futures stabilised on Thursday as inventory posted a limited decline compared to the prior week, Kallanish notes. Momentum is now weighted more towards the bulls in the market than the bears.
On the Shanghai Futures Exchange, the January 2022 rebar contract closed CNY 31/tonne lower than Wednesday at CNY 4,471/t ($700/t), but the same contract for HRC closed up CNY 6/t at CNY 4,605/t.
The year-on-year decline in rebar output has …
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