01
Jul
12:02
Renewed futures rally buoys Chinese steel
Chinese spot steel prices increased slightly over last week as sentiment slowly improved. Traders expect further increases may be possible as futures prices are up strongly over the week, Kallanish notes.
Spot 20mm HRB400 prices in Shanghai hit CNY 2,060-2,110/tonne ($310-318/t) on Friday, up CNY 75/t from a week earlier. 5.5x1,500mm Q235B hot rolled coil meanwhile gained CNY 50/t over the week to CNY 2,530-2,570/t.
Traders say buying was steady, but not stro…
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Anonymous
Very good overview of the weekly steel market.
Anonymous