24
Feb
16:37
Chinese steel futures steady as Shougang shuts furnace
Chinese steel futures were steady on Monday. The market is still waiting for a change in real end user demand, but was supported by news of further shutdowns, Kallanish notes.
On the Shanghai futures Exchange the May rebar contract closed at CNY 3,476/tonne ($494/t), CNY 9/t down from Friday, while the same contract for hot rolled coil closed up CNY 6/t at CNY 3,490/t.
Steel demand remains stuck in a slow recovery. The China Iron and Steel Association (CISA) note…
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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