16
Mar
10:45
Ferrous futures slump on financial panic
Slumps in crude oil and trouble at Credit Suisse magnified market panic on Thursday, pushing Chinese rebar and hot rolled coil futures sharply lower, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 127/tonne lower than Wednesday at CNY 4,205/t ($610/t), while the same contract for HRC lost CNY 128/t to CNY 4,310/t.
The overall panic in financial markets prompted the bull…
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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