08
Mar
09:33
Chinese HRC extends lows amid bearish mood
Due to limited macro stimulus from the long-waited Two Sessions and low spot market demand, the prices of HRC continued to fall, extending their four-month lows last week, Kallanish notes.
In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 3,880-3,900/tonne ($539-542/t), down CNY 60/t on the prior Friday. On the Shanghai Futures Exchange, the May 2024 contract for HRC lost CNY 12/t from Thursday a…
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Anonymous
Very good overview of the weekly steel market.
Anonymous