26
Nov
11:29
Chinese steel futures hold as output slips
Chinese steel futures prices held steady on Thursday, cementing their new position below CNY 1,700/tonne ($266/t). China’s steel producers have been cutting production in November, data show, but the cutbacks have been slower than is needed, Kallanish notes.
The May 2016 rebar contract on the Shanghai Futures Exchange closed up CNY 4/t at CNY 1,680/t, while the January contract for hot rolled coil closed up CNY 6/t at CNY 1,745/t.
Major Chinese steelmak…
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Anonymous
Very good overview of the weekly steel market.
Anonymous