24
Nov
11:07
Ferrous futures hold despite lower inventory
Stimulated by expectations of a cut to required reserve ratios (RRR), Chinese rebar and hot rolled coil futures started to rise from Wednesday night trading, but weak spot transactions weighed on prices on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded January 2023 rebar contract closed CNY 10/tonne lower than Wednesday at CNY 3,681/t ($515/t), while the same contract for HRC gained CNY 11/t to CNY 3,785/t.
The executive meeting…
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Anonymous
Very good overview of the weekly steel market.
Anonymous