29
Aug
09:12
Chinese steel slumps further as output up again
Chinese steel futures prices were down from the outset on Monday and stayed that way throughout the day. The latest output data shows an increase in mid-August, meanwhile, suggesting no shortage of supply, Kallanish notes.
The January rebar contract on the Shanghai Futures Exchange closed down CNY 64/tonne at CNY 2,477/t ($372/t). The October hot rolled coil contract closed up CNY 19/t at CNY 2,830/t indicating some remaining faith in the market in the…
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Anonymous
Very good overview of the weekly steel market.
Anonymous