31
Oct
10:17
HRC drives Chinese prices higher
Chinese steel futures prices started the week strongly on Monday but with HRC developing a clear lead over rebar. Although higher costs are part of the story, a tight CRC and HRC market is now the key to sustaining the rally, Kallanish notes.
The January rebar contract on the Shanghai Futures Exchange closed up CNY 55/tonne at CNY 2,600/t ($384/t). The same contract for HRC meanwhile rocketed CNY 86/t higher to close at CNY 2,969/t. There is still more room for …
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Anonymous
Very good overview of the weekly steel market.
Anonymous