16
May
13:51
Steel futures stabilise despite macro data shock
Despite the impact of the sluggish April macro data, Chinese rebar and hot rolled coil futures remained relatively stable by the end of Monday, supported by short-sellers who closed positions and left the market with profits, and the prospect of opening in Shanghai, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 9/tonne higher than Monday at CNY 4,679/t ($689/t), and the same contract for HRC closed up 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