15
Jun
13:12
Chinese steel slumps despite project approvals
Chinese steel futures prices fell further on Wednesday as the outlook for demand in the short term remained weak. Government reports of new investment approvals in May were not of a scale sufficient to bolster sentiment, Kallanish notes.
The October rebar contract on the Shanghai Futures exchange closed down CNY 58/tonne at CNY 2,067/t ($314/t), while the same contract for hot rolled coil closed down CNY 55/t at CNY 2,251/t. With traders on both the export and d…
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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