25
Nov
11:09
Chinese steel prices soar as buying picks up
Chinese steel prices rebounded earlier in the week and then leapt higher on Friday as futures soared and traders were increasingly confident of another strong week to come. The pace of increase showed no signs of letting up and announced production restrictions in Tangshan (see separate article) were also boosting sentiment, Kallanish notes.
In Shanghai, 20mm HRB400 rebar was trading at CNY 2,900-2,950/tonne ($421-428/t) on Friday afternoon, up CNY 165/t from a …
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous