08
Nov
14:19
Inventories leave room for Chinese steel price strength
Chinese steel market inventories have continued to fall to record lows, leaving room for continued price strength, especially for hot rolled coil. Chinese steel futures have reflected this, brushing off China’s latest attempt to reduce speculation, Kallanish notes.
The January rebar contract on the Shanghai Futures Exchange closed the day up CNY 37/tonne at CNY 2,836/t ($419/t), while the same contract for HRC closed up CNY 13/t at CNY 3,220/t. Both contra…
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Anonymous
Very good overview of the weekly steel market.
Anonymous