21
Mar
10:38
Ferrous futures keep falling despite output cut rumours
Despite annual steel output reduction rumours surfacing again, Chinese rebar and hot rolled coil futures still kept falling on Tuesday as raw materials and spot steel prices were declining, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 38/tonne lower than Monday at CNY 4,156/t ($605/t), while the same contract for HRC lost CNY 32/t to CNY 4,273/t.
On Tuesday, rumours iā¦
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Anonymous
Very good overview of the weekly steel market.
Anonymous