27
Jan
09:06
Soaring inventory drags down steel futures
Thanks to China's continued macro-policy support to ensure stable economic growth, market confidence stabilised on Thursday, despite an expected surge in inventories. Chinese rebar and hot rolled coil futures fluctuated lower, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 21/tonne lower than Wednesday at CNY 4,673/t ($736/t), and the same contract for HRC closed down CNY 10/t at CNY 4,795/t.
The rapid growth in…
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Anonymous
Very good overview of the weekly steel market.
Anonymous