16
Dec
11:13
Chinese HRC hikes further as demand bottoms out
Demand for hot rolled coils bottomed out last week, which in turn pushed prices in the domestic and export markets to five- and four-month highs, Kallanish notes. Recently announced stimulus measures have boosted confidence in the coming year.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 4,170-4,190/tonne ($598-601/t), up CNY 90/t week-on-week. On the Shanghai Futures Exchange, meanwhile, the most-traded May 2023 contrac…
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Anonymous
Very good overview of the weekly steel market.
Anonymous