18
Jul
10:04
Steel futures prices drop as inventory builds up
The rise in Chinese steel futures prices ended on Thursday with a decline. The continuous accumulation of inventory reflects weaker market demand, Kallanish notes.
On the Shanghai Futures Exchange the October rebar contract closed at CNY 3,968/tonne ($577/t), CNY 84/t lower than Wednesday, while the same contract for hot rolled coil closed down CNY 60/t at CNY 3,861/t.
Rebar inventories continued to accelerate this week. According to …
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Anonymous
Very good overview of the weekly steel market.
Anonymous