08
May
11:49
Steel futures surge on output cap confirmation
Chinese rebar and hot rolled coil futures surged on Monday and almost touched a half-month high. The rebound was due to a district in Tangshan, China’s largest steel-producing city, confirming it will maintain crude steel output level this year compared with 2022, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 110/tonne higher than 8 May at CNY 3,732/t ($540/t), and the same contr…
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Anonymous
Very good overview of the weekly steel market.
Anonymous