01
Jun
12:46
Steel prices slump as Shagang cuts further
Chinese steel futures prices dropped again on Wednesday, starting the new month on a weak note. Shagang also announced its rebar prices for early June would be CNY 200-250/tonne ($30.4-38.0/t) lower than in late May, Kallanish notes.
The October rebar contract on the Shanghai Futures Exchange closed down CNY 44/tonne at CNY 1,955/t ($297/t), while the same contract for hot rolled coil closed down CNY 62/t at CNY 2,167/t.
Weak PMI data (see separate article) i…
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Anonymous
Very good overview of the weekly steel market.
Anonymous