10
May
11:37
Steel futures extend decline on deteriorating demand
Construction steel transactions in China continued to slow on Tuesday as traders became more cautious, and rumours abounded that steel exports would be further suppressed. Rebar and hot rolled coil futures thus continued to fall on Tuesday on weakened expectations, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract closed CNY 47/tonne lower than Monday at CNY 4,607/t ($685/t), and the same contract for HRC closed down CN…
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Anonymous
Very good overview of the weekly steel market.
Anonymous