13
Jan
11:43
Rising inventory sees steel futures retreat
The continuous growth of inventories has broken the upward momentum driven by raw materials and improving sentiment. Chinese rebar and hot rolled coil futures thereby retreated on Thursday, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 1/tonne higher than Wednesday at CNY 4,633/t ($728/t), but the same contract for HRC closed down CNY 12/t at CNY 4,739/t.
Despite support from raw materials such as iron ore and coke…
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Anonymous
Very good overview of the weekly steel market.
Anonymous