25
Oct
13:34
Steel futures struggle while production cuts hesitate
Major investment institutions were still taking short positions in futures markets as the steel market remains bearish. Chinese rebar and hot rolled coil futures thus dipped deeper on Tuesday, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2023 rebar contract closed CNY 48/tonne lower than Monday at CNY 3,574/t ($489/t), while the same contract for HRC lost CNY 33/t to CNY 3,623/t.
Market sentiment was sti…
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Anonymous
Very good overview of the weekly steel market.
Anonymous