14
Mar
11:09
Steel futures dive further on rising inventory
Due to sluggish demand implied by inventory data, Chinese rebar and hot rolled coil futures continued to dive on Thursday and hit 9- and 5-month lows respectively, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2024 rebar contract closed at CNY 3,506/tonne ($488/t) on Thursday, down CNY 77/t on the prior trading day. The same contract for HRC lost CNY 68/t to CNY 3,701/t.
Inventories of both reb…
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Anonymous
Very good overview of the weekly steel market.
Anonymous