06
Dec
12:57
Steel futures decline, RRR cut takes effect
Chinese steel futures fell slowly on Monday, but the central government announced a reserve requirement ratio (RRR) cut and released a signal of support for the real estate industry, Kallanish notes.
On the Shanghai Futures Exchange, the May 2022 rebar contract closed CNY 25/tonne lower than last Friday at CNY 4,359/t ($683/t). Meanwhile, the same contract for hot rolled coil closed down CNY 50/t at CNY 4,546/t.
After the market…
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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