10
Apr
09:33
Steel futures encounter resistance to rebound
Chinese rebar and hot rolled coil futures on Wednesday closed lower than the previous day after two consecutive days of gains, but average intraday deal prices were higher. This shows that futures are encountering resistance as they are about to exit the current volatile range, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded May 2024 rebar contract closed at CNY 3,518/tonne ($486/t) on Wednesday, down CNY 16/t …
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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