22
Mar
09:46
Ferrous futures stop falling
Chinese rebar and hot rolled coil futures stabilised on Wednesday after two days of losses on bank jitters. Markets were awaiting the US Federal Reserve's interest rate adjustments on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 3/tonne lower than Tuesday at CNY 4,153/t ($603/t), but the same contract for HRC gained CNY 13/t to CNY 4,286/t.
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Anonymous
Very good overview of the weekly steel market.
Anonymous