19
Aug
09:53
Tangshan billet lags behind futures rally
Spot Tangshan billet was so subdued that it failed to follow the rally in rebar futures on Monday, mainly because of weak downstream demand. Speculative activity however partially supported forwards.
Spot Tangshan billet was assessed at CNY 2,950/tonne ($413/t), down CNY 130/t week-on-week. The October rebar contract on the Shanghai Futures Exchange closed at CNY 3,156/t on Monday afternoon, down CNY 66/t w-o-w but up 2.9% on-day, meaning the spot billet discount …
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Anonymous
Very good overview of the weekly steel market.
Anonymous