08
Dec
09:51
Chinese steel prices slip but inventories provide support
Chinese steel futures prices fell again on Tuesday as iron ore prices dropped and demand remained weak. Steel market inventories continued to decline however, giving some support, Kallanish notes.
The May 2016 rebar contract on the Shanghai Futures Exchange closed down CNY 7/tonne at CNY 1,654/t ($258/t), while the same contract for hot rolled coil closed down CNY 15/t at CNY 1,727/t.
Iron ore falling below $40/t has dragged down steel pricing. Weak winter de…
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Anonymous
Very good overview of the weekly steel market.
Anonymous