22
Mar
08:28
Chinese HRC rebounds but faces resistance
Chinese domestic hot rolled coil futures and prices have begun to climb, after touching five-month lows, due to improving sentiment and a decrease in inventories, Kallanish notes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 3,850-3,870/tonne ($533-535/t), up CNY 100/t on the prior Friday. On the Shanghai Futures Exchange, the May 2024 contract for HRC lost CNY 5/t from Thursday but gained CNY 130/t o…
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Anonymous
Very good overview of the weekly steel market.
Anonymous