06
Nov
05:03
Magic returns to steel as Tangshan cuts output
Chinese steel prices have surged over the week and look set to sustain their rally into this week after Tangshan announced new production cuts. Although the momentum was starting to fade in the hot rolled coil market, Tangshan’s move on Friday meant billet and rebar prices were finally pushing up confidently above cost levels, Kallanish notes.
In Shanghai, 20mm HRB400 rebar was trading at CNY 2,630-2,680/tonne ($389-396/t), up CNY 190/t from a week earlier…
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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