22
May
12:45
Rebar futures hit half-year low
On Monday, Chinese rebar futures dropped further to a half-year low as bears made a big push, and hot rolled coil futures closed at the second lowest level in the past half year, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 rebar contract closed CNY 76/tonne lower than Friday at CNY 3,569/t ($508/t), while the same contract for HRC lost CNY 75/t to CNY 3,647/t.
Triggered by falling futures of raw materia…
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Anonymous
Very good overview of the weekly steel market.
Anonymous