27
Jul
12:58
Chinese steel prices spike as production slides
Chinese steel futures prices jumped again on Wednesday as new data showed a pullback in production. Inventories have been increasing both at traders and at mills however, Kallanish notes.
The October rebar contract on the Shanghai Futures Exchange closed up CNY 79/tonne at CNY 2,418/t ($362/t), while the same contract for hot rolled coil closed up CNY 64/t at CNY 2,623/t.
Strength in iron ore over the last day helped, as did the steady decline in steel produc…
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Anonymous
Very good overview of the weekly steel market.
Anonymous