23
Mar
08:18
Ferrous futures touch one-month lows on weaker consumption
Chinese rebar and hot rolled coil futures dropped sharply on Thursday due to falling weekly consumption, and finally hit more than one-month lows, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 83/tonne lower than Wednesday at CNY 4,070/t ($597/t), and the same contract for HRC lost CNY 65/t to CNY 4,221/t.
Over the past week, rebar production turned to decline while HRC out…
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Anonymous
Very good overview of the weekly steel market.
Anonymous